IFT/ 2 day process

[catak]

So, I just made an IFT. My understanding is that this will not take effect until trading starts on Monday the 5th? What a screwed up system. Why does the government take this long to process?

 

[userque]

So, I just made an IFT. My understanding is that this will not take effect until trading starts on Monday the 5th? What a screwed up system. Why does the government take this long to process?

Please read the following from https://www.tsp.gov/planparticipation/interfund/IFTs.shtml#whenTakeEffect
(Emphasis added)


When Do Interfund Transfers Take Effect?



Online and Telephone

IFTs made on this website or the ThriftLine before 12 noon Eastern time are generally processed as of that business day. Requests made after 12 noon Eastern time are generally processed the next business day.


Interfund Transfer Limits



You can make an IFT at any time, but there are some important limitations:

• The first two IFTs of any calendar month may redistribute money in your account among any or all of the TSP funds, including moving your entire balance into the Government Securities Investment (G) Fund.
• Subsequent IFTs in the same calendar month can only move money into the Government Securities Investment (G) Fund.

If you have both a civilian and a uniformed services account, these rules apply to each account separately.
Your IFT counts in the calendar month we process it, not in the month you submit

 

[Cactus]

You have until noon eastern to make an IFT that takes place the next day. These are not individul stocks so the trade is not immediate. It's more like a mutual fund where the price of each share is determined at the end of the day and that is the price you get and is when the trade takes place.

 

[userque]

You have until noon eastern to make an IFT that takes place the next day. These are not individul stocks so the trade is not immediate. It's more like a mutual fund where the price of each share is determined at the end of the day and that is the price you get and is when the trade takes place.

Well, actually, you have until noon EST to make an IFT that takes place close of business THAT SAME DAY.

IF, however, you miss the noon deadline, THEN the IFT will be effective the next trading day.

 

[Cactus]

correct

 

[ravensfan]

Well, actually, you have until noon EST to make an IFT that takes place close of business THAT SAME DAY.

IF, however, you miss the noon deadline, THEN the IFT will be effective the next trading day.

Correction...that's close of business the next trading day for IFT's submitted after 12:00 noon...

 

[userque]

correct

BTW...

Looked through older Alternative LMBF forum posts (to figure out what LMBF-SIM means:blink....

Nice work with the spreadsheets

 

[userque]

Well, actually, you have until noon EST to make an IFT that takes place close of business THAT SAME DAY.

IF, however, you miss the noon deadline, THEN the IFT will be effective the next trading day.

Correction...that's close of business the next trading day for IFT's submitted after 12:00 noon...

LOL...Yeah...what he said.:blink:

 

[rlundy]

From Hawaii I'm trying to decided on Sunday night if I want to submit my IFT to get into the market for Tuesday and on Wednesday night I'm making the decision to get out for the weekend. 2014 is definently not like 2013.

 

[ILoveTDs]

BTW...

Looked through older Alternative LMBF forum posts (to figure out what LMBF-SIM means:blink....

Nice work with the spreadsheets

LMBF-SIM is LMBF-1 seasonally variant to be in the F Fund May - Oct.

 

[userque]

LMBF-SIM is LMBF-1 seasonally variant to be in the F Fund May - Oct.

Thanks, I read where you guys were talking about it. We'll see if the sell in May thing holds true this year.