Pay Per Transfer?

[fabijo]

She looked around the room and finally asked, "When are you elligible for retirement? I told her 2024. Her response,"You shouldn't be here, it's too early for you to be worried about these things."

This really burns me up.

The mindset of ignorance is prevalent and encouraged all over, not just for retirement. Anybody who decides to study, think, or find out anything for themselves becomes a stranger and an outcast.

 

[350zCommTech]

QUICK AND POSITIVE RESPONSE:

Everyone, I received a response from Wayne Mcleod. The following is the
response I received at my home email address. He must have responded
to my work address in a earlier email, but go figure, he missed the part
where I asked him to write me at home because I never got it. When I check
my work email, I'll see if he had anything in addition to the one I'm about to
post. Anyway, Here it is;

"I replied to this email earlier this morning...

Yes the board is looking into changing the rules to resolve this issue and should be handled in the coming months".

Wayne

That is great news.

Thanks SB.

 

[Show-me]

They realized that there was money to be made in fees.

 

[fabijo]

They realized that there was money to be made in fees.

I don't know why it took them so long to realize that. Even .01% in fees would be highly profitable for them.

 

[FundSurfer]

Very interesting....

Best news I've heard in a while. Not that I want to move a lot right now, but in the future.

I've been seething under the surface since this last spring. I guess that is part of the reason I have not stopped by more often. That and I don't want to be reminded of how bad the market is right now.

Hope it pans out.

 

[Frixxxx]

This really burns me up.

The mindset of ignorance is prevalent and encouraged all over, not just for retirement. Anybody who decides to study, think, or find out anything for themselves becomes a stranger and an outcast.

Thanks fabijo, I honestly believe that, in truth, she was a little jealous that I have been planning my retirement since I started working. I mean, who wants to work for the rest of their life?

But, if I took most other people's lead, I'd never have a retirement. I won't call myself an outcast, just part of the chosen few!!!!!

Just like everyone here at the MB.

 

[CountryBoy]

Good to see ya FS,

I sure have missed your posts, but I can understand your anger towards barclay's biatches. I still get angry thinking about it.

CB

 

[James48843]

Regarding that rumor on possible pay per move-

I was not able to find anything in any of the minutes of the meetings about that, nor from anyone on the ETAC.

However, I DID find one interesting tidbit in the hard data:

Since the Thrift Board announced the imposition of trading limits, the number of FERS participants making contributions to the TSP has, for the first time in the fund's history, actually DROPPED. Previously, every month since 1987 the number of participants has gone up. But suddnely, there is a change:

January 2008: 1,681,000
February 2008: 1,675,000
March 2008 : 1,674,000
April 2008: 1,672,000
May 2008: 1,669,000

How about that?

Impose limits, and more people are turned off to doing the TSP.

Amazing how the free market works, isn't it? There were 20,000 FEWER FERS people contributing to the TSP in May than in January.

You don't think that maybe that might be a factor in reconsidering a pay-for-trade plan of some kind?

 

[DrFaustus]

Thanks fabijo, I honestly believe that, in truth, she was a little jealous that I have been planning my retirement since I started working. I mean, who wants to work for the rest of their life?

If it were me, I'd give new-hires a retirement class on their first week of employment. In the days of the TSP, the 401k and similiar investment vehicles, you really need to have time working with you. Not only does it lead to saner investments but you don't stress out as much in the later years trying to play catch-up as well.

 

[Guest2]

As promised, I had a fellow staff member forward Mr. Mcleod's original
response to my home email address. It didn't add too much to the one
I posted earlier, however, it was worded a bit differently. Here it is;

>>> "Wayne McLeod" Monday, September 15, 2008 8:25 AM >>>

They are working on this proposal now and should have resolution shortly.
The FRTIB doesn't disclose information like Congress but rest assured they
are working on this matter.

Wayne

 

[Steadygain]

Any time I traded using Financial Institutions (Lehman, Merril Lynch and others...)I'm pretty sure the charge for BUYING was 6% of the total assets invested - and My Bank charged the same amount when I use to transfer accounts at home and do stock trading.

I've not used any of them for ages - but even if we were charged 2% (which from their perspective is a steel) - it would way more keep me looking for LOW lows and HIGH highs.

Anyway let's hope if there is a charge for IFTs it's $50.00 or something we all could be happy with.

 

[Fivetears]

How 'bout $6.00 trades? $50.00?

 

[Guest2]

How 'bout $6.00 trades? $50.00?

How about just giving us back what they took from us to begin with.
I promise not to sue them for my losses since then! Yes I know, Don't
hold my breathe! $6 dollars per trade sounds competative with ETrade
and other such companies, but won't address their goals of keeping
IFT's to a minimum. Expect the pricing structure to be a deterant. :worried:

 

[Show-me]

How about something like 50 trades a year at anytime we like and then a fee for additional trades.

 

[Guest2]

How about something like 50 trades a year at anytime we like and then a fee for additional trades.

50? I got one thing to say about that ! SHOW-ME FOR PRESIDENT !

 

[Steadygain]

How about something like 50 trades a year at anytime we like and then a fee for additional trades.

I'll second that !

All in favor: Arms wave with cheers and lots of activity

All opposed: Dead silence - only eyes rolled to scan the crowd

Move on it - GET IT DONE.

 

[Braveheart]

How about something like 50 trades a year at anytime we like and then a fee for additional trades.

That sounds good but I see where they will use the (shorts) as an excuse to limit us with the 2 IFT's. Long was actually saying that is why they stopped the unlimited IFT's with Barclays claiming they were losing on the I Fund transfer and then we heard the B.S. about we were timing the G Penny.

Sure they saved on IFT's but imagine the $$ that was lost because of the FRTIB and then look at the money we all could have made such as those locked out using up their 2 IFT's.