Monthly TSP Withdrawal Question

[doubledown]

I too have been trying to change my distributions amount. No luck! I did find a new problem. It appears that the system has a limit on how many sms verifications it can send out. I could not log in due to the system limit! Bullshits ass!!

 

[littlfish]

Re: NEW WEBSITE IS NOW ACTIVE- SIGN UP NOW.

Well, the 10th has come and gone and no upgrade or fix for this problem I guess I shouldn't be surprised, this whole "upgrade" thing has been a fiasco. Today is the 15th and supposedly my monthly installment should be in my bank account, but of course it is not. Hopefully tomorrow .... or the next day. This is really shameful how this website was thrown together.

 

[James48843]

Re: NEW WEBSITE IS NOW ACTIVE- SIGN UP NOW.

Well, the 10th has come and gone and no upgrade or fix for this problem I guess I shouldn't be surprised, this whole "upgrade" thing has been a fiasco. Today is the 15th and supposedly my monthly installment should be in my bank account, but of course it is not. Hopefully tomorrow .... or the next day. This is really shameful how this website was thrown together.

I'm in the same boat- I don't have any idea whether or not the monthly payment, which was supposed to be on the 15th, is going to show up soon. I WAS able to get a partial payment set last week- and it came out of my fund, but took three days before it showed up in my bank account.

If they are saying that take the money out on the 15th, rather than PAY on the 15th- that means it won't hit my bank account until at LEAST friday- and maybe not until Monday. That would be a disaster. I have bills to pay set on pre-pay. My biggest worry is it won't come at ALL. if that happens, I'm really going to be not happy.

If it doesn't show up on time, and doesn't come AT ALL- then I'm thinking a lawsuit is appropriate. I'm going to have additional fees if the money I'm supposed to get my money- which previously was coming monthly on the 10th- . if it doesn't show up at all, I'm going to have a bad day.

 

[quabit]

Re: NEW WEBSITE IS NOW ACTIVE- SIGN UP NOW.

I'm in the same boat- I don't have any idea whether or not the monthly payment, which was supposed to be on the 15th, is going to show up soon. I WAS able to get a partial payment set last week- and it came out of my fund, but took three days before it showed up in my bank account.

If they are saying that take the money out on the 15th, rather than PAY on the 15th- that means it won't hit my bank account until at LEAST friday- and maybe not until Monday. That would be a disaster. I have bills to pay set on pre-pay. My biggest worry is it won't come at ALL. if that happens, I'm really going to be not happy.

If it doesn't show up on time, and doesn't come AT ALL- then I'm thinking a lawsuit is appropriate. I'm going to have additional fees if the money I'm supposed to get my money- which previously was coming monthly on the 10th- . if it doesn't show up at all, I'm going to have a bad day.

They are slow on everything. I have just the opposite. Last week I requested a direct payment to pay off a loan and per the notice I got when requesting it, it would take 1 week for them to pull it from my bank and another week for them to post it to the loan. 14 days for direct debit. That's crazy, If yours is the same slowness it could take awhile.

Aren't we supposed to have advanced past the stone age. Well I guess the normal word has, just not TSP, they have taken steps to go backwards. :worried:

 

[ridingthefundout]

Installment Payment DatesAs communicated prior to our transition, all installment payments will be disbursed on the 15th ofthe month the payment is scheduled to be sent. If the 15th is a holiday or weekend, the paymentwill be disbursed the following business day. This distribution date applies to monthly, quarterly,and annual payments. You will not be able to change this date.

 

[James48843]

Today is the 15th.

The payment has NOT been sent.
In fact, the payment has not only NOT been sent, it has not been taken out of my shares yet. And the previous payment from the new system took four days AFTER it was showing up as deducted before it was actually SENT to my account.


Sent from my iPhone using TSP Talk Forums

 

[Seahawks13]

Same with my no withdrawal and no deposit. They better look into this quick as no paying us will be the end of all board members! If your a TSP employee we are not getting paid so tell the board to pack there offices up because they will be unemployed if this happens to all of us.

 

[Cobra]

Same with my no withdrawal and no deposit. They better look into this quick as no paying us will be the end of all board members! If your a TSP employee we are not getting paid so tell the board to pack there offices up because they will be unemployed if this happens to all of us.

No deposit showed up today!
The list of known issues doesn't list/Talk about monthly installments which makes me thing they are not even aware of this issue

 

[blindspeed]

7 pm eastern, 6/15/22. the difference between my home page account balance and the withdrawal page available balance was within three dollars of my monthly installment. So it looks like they have removed it.....let's see how long it takes to get to my bank

 

[Seahawks13]

You can actually see your account balance on the 15th when TSP does not update until 8 PM EST? Are you sure you don't mean the 14th?

 

[Mitchhyman]

My concern is that I want to discontinue my installment payments for a few months while the market is down, and there is no way to do that on the website. So the TSP is forcing me to withdraw funds from my account against my will. This is upsetting because it was because of the flexible withdrawal options that I decided to leave my money in the TSP after I retired. What upsets me more than anything else is that the TSP has not acknowledged the problem and has not indicated when it plans to resolve it. Without any information from them I feel like I am forced to look into moving all my funds to a private company despite the higher maintenance costs.

 

[Cobra]

7 pm eastern, 6/15/22. the difference between my home page account balance and the withdrawal page available balance was within three dollars of my monthly installment. So it looks like they have removed it.....let's see how long it takes to get to my bank

I just checked withdrawals and the i am seeing a withdrawal dated today for the amount i was withdrawing..
I can't see how much federal tax was withheld so I will wait and see what amount will be deposited into my account.
I will let you all know if the amount is what I expected

 

[waltj]

At 7m local, I received 2 emails from TSP (probably double post, can't do anything correctly)

[TABLE="align: center"]
[TR]
[TD]Your payment from the Thrift Savings Plan completed as of June 15, 2022.
Your monies will be issued on June 17, 2022. Allow for standard mailing time for any portion of your payment that is scheduled to be mailed. Allow 1-2 business days for any portion that will be direct deposited into your account.
You can see the details of your payment on tsp.gov.
[/TD]
[/TR]
[/TABLE]

 

[Seahawks13]

Just saw my withdrawal come out tonight as well. So, there is hope I might get it but not deposited on the 15th like they said.

 

[sean101]

Re: NEW WEBSITE IS NOW ACTIVE- SIGN UP NOW.

No check.
No deposit.
No E-mails.
WTF??
This upgrade has been a downgrade.

 

[James48843]

Ok- now I am REALLY angry.

Nothing taken out of my account for my scheduled monthly payment which was supposed to be today.

No email.

No Nothing.

—-AND——

Still no button within the program to set up, or change, or stop a monthly payout.

—-AND—-
To make matters worse- because I took a partial payout two weeks ago to to fix my roof (nearly $30,000 for a one-time roof replacement)- NOW the website says I CANNOT REQUEST another partial payment for 30 days!!

WTF? Because I asked and got an emergency partial distribution of my money to fix my roof, you’ve somehow stopped my regular monthly distribution, AND I can’t get access to ANY of my money for 30 more days?

You have got to be kidding me. I’m in trouble! I have bills to pay !!!

I’m f’cked. And I’m furious.




Sent from my iPhone using TSP Talk Forums

 

[blindspeed]

I have never received an email notification in the past, so if that was an option I did not select it. I looked at my "payment history" this morning and it shows the amount, taxes, and destination for funds. So mine seems to be good!

 

[Smoke]

Question:
Has anyone attempted to set up Monthly withrdawals and change the amount of federal Tax that will be withheld successfully?

Yes, last week I was able to set up ONE monthly RMD withdrawal, and specify that I wanted NO withholding.
(transfer occurred ~4 days later)

I could NOT set up a recurring transfer. Looks like month-by-month action will be needed by us, for now.

 

[Cobra]

Yes, last week I was able to set up ONE monthly RMD withdrawal, and specify that I wanted NO withholding.
(transfer occurred ~4 days later)

I could NOT set up a recurring transfer. Looks like month-by-month action will be needed by us, for now.

I just checked and I received an email stating that my withdrawal will post on the 17th.
In the Payment History it has the amount withdrawn and the amount of federal taxes withheld. It is what I had setup under the old website so that part seems to be working for me.
However, Under withdrawals I still don't see any any button that would allow you to change or stop your recurring withdrawals.

 

[sean101]

Day 2.....no money