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PETITION TO INCREASE # of IFT's
- Thread starter tsptalk
- Start date
nasa1974
Moderator
I didn't get a nasty gram, but did take advantage of the extra IFT's. That was the time frame I helped work out the <1% moves with squalbear.
RazorCat
Well-known member
I took for the team this morning. I joined FB. :aargh4:
Said I'd never do it. But, my first post (and possibly last) was to the TSP FB page.
And I got the same "we have to review your post" message. We'll see if they support the 1st amendment.
Interesting TSP would issue a statement addressing an increase in IFTs before they even see how many participants support it. Guess we know where we stand with at least some of those in the Greg Long regime.
Said I'd never do it. But, my first post (and possibly last) was to the TSP FB page.
And I got the same "we have to review your post" message. We'll see if they support the 1st amendment.
Interesting TSP would issue a statement addressing an increase in IFTs before they even see how many participants support it. Guess we know where we stand with at least some of those in the Greg Long regime.
RazorCat
Well-known member
Yeah, those were the good ol' days. I had to keep a listing of which fund I was in on a given day on my government wall calendar. Made a ton of money during that time. As a young man, it helped me build a great base from which to work from, and learn about the power of compound interest. Mentioned the other day on here that I have my "cease and desist" letter from the TSP Board framed, and displayed proudly in my home office.
Good times.
jkenjohnson
Active member
already did. still need a lot of people to sign
nasa1974
Moderator
I guess when they gave us the opportunity to move funds on a daily basis that it wasn't thought out very well. So about 1% of total participants took advantage of the daily trades and the board panicked. What would have happened if 5% of the participants had traded daily? Anyway it would be nice to have the trade deadline at 4pm EST instead of noon. Sure would make it easier for the folks west of the Rockies.
the reason i created the petition from whitehouse.gov is because while TSP may not be interested in making changes, the Executive branch can force the change. 100,000 signatures by law forces the Executive branch to response to the petition. that said, i don't know what kind of response we would get.
nasa1974
Moderator
Government News, Research and Events for Federal Employees - GovExec.com
The Hiring Freeze Takes a Toll on One Benefit, a Petition for a TSP Tweak and More
By GovExec Staff February 22, 2017 5 Comments
The Hiring Freeze Takes a Toll on One Benefit, a Petition for a TSP Tweak and More - Pay & Benefits Watch - Pay & Benefits - GovExec.com
"Meanwhile, a petitioner on the White House’s “We the People” site is requesting a tweak to federal employees’ 401(k)-style retirement plan. The petition filed Feb. 14 asks that the Thrift Savings Plan allow four free transfers among its funds per month, rather than the two currently available. TSP reduced the number of free interfund transfers to two in 2008, in an effort to curb rising transaction costs caused by a relatively small number of participants who made frequent trades.
The petition argues that “this policy prevents government employees and military members from being in control of their own retirement account.” So far 1,960 people have signed; petitions required 100,000 signatures to get a response from the White House during the Obama administration.
Kim Weaver, director for external affairs for the Federal Retirement Thrift Investment Board, on Wednesday said the board does not plan to change the rule. “Nothing that has happened in industry practice or in the TSP has given us reason to revisit the limitation imposed in 2008,” she wrote in an email. “At the end of the day, the TSP is a retirement plan, not a mutual fund.” ..."
All, i posted the petition information on a few of the posts on the TSP facebook pace that had more than a few thousand views. I also emailed a couple of people in the American Federation of Government Employees (AFGE) asking them to support the petition. If you know any other Unions or organizations with a lot of members feel free to send them the below.
******************
All, I created a petition concerning the Thrift Savings Plan. We currently have over 1900 signatures but we need 100,000.
The petition is calling to allow employees to get control back concerning their retirement accounts. You don't have to be a military member or a government employee (more than 3 million participants in the TSP) to sign the petition. So please add your name to the petition and share as widely as possible on all of your social media accounts. Below is the letter you can share but make sure everyone knows they don't have to be in the TSP to sign the petition. Once you sign it, you will get an email confirming your signature with a link. You need to click the link verifying your signature or the signature will not be counted. We all really appreciate your support.
Dear friends,
I wanted to let you know about a new petition I created on We the People, a new feature on WhiteHouse .gov, and ask for your support. Will you add your name to mine? If this petition gets 99,999 signatures by March 16, 2017, the White House will review it and respond!
We the People allows anyone to create and sign petitions asking the White House to take action on a range of issues. If a petition gets enough support, the White House will issue an official response.
You can view and sign the petition here:
https://petitions.whitehouse.gov/petition/allow-4-free-interfund-transfers-month-thrift-savings-plan
Here's some more information about this petition:
Allow 4 free interfund transfers a month in the Thrift Savings Plan
In 2008 the Thrift Savings Plan (TSP) changed the policy concerning interfund transfers (IFTs) from unlimited trades to two trades, although allowing a final trade into the G Fund. This policy prevents government employees and military members from being in control of their own retirement account.
This policy needs to be amended to allow 4 free IFTs per month, while always allowing a last free IFT into the G Fund. Additional IFTs (More than 4 IFTs) should be allowed for a fee commensurate with industry standards.
Give back to government employees and military members control over their retirement account. It is their money after all.
******************
All, I created a petition concerning the Thrift Savings Plan. We currently have over 1900 signatures but we need 100,000.
The petition is calling to allow employees to get control back concerning their retirement accounts. You don't have to be a military member or a government employee (more than 3 million participants in the TSP) to sign the petition. So please add your name to the petition and share as widely as possible on all of your social media accounts. Below is the letter you can share but make sure everyone knows they don't have to be in the TSP to sign the petition. Once you sign it, you will get an email confirming your signature with a link. You need to click the link verifying your signature or the signature will not be counted. We all really appreciate your support.
Dear friends,
I wanted to let you know about a new petition I created on We the People, a new feature on WhiteHouse .gov, and ask for your support. Will you add your name to mine? If this petition gets 99,999 signatures by March 16, 2017, the White House will review it and respond!
We the People allows anyone to create and sign petitions asking the White House to take action on a range of issues. If a petition gets enough support, the White House will issue an official response.
You can view and sign the petition here:
https://petitions.whitehouse.gov/petition/allow-4-free-interfund-transfers-month-thrift-savings-plan
Here's some more information about this petition:
Allow 4 free interfund transfers a month in the Thrift Savings Plan
In 2008 the Thrift Savings Plan (TSP) changed the policy concerning interfund transfers (IFTs) from unlimited trades to two trades, although allowing a final trade into the G Fund. This policy prevents government employees and military members from being in control of their own retirement account.
This policy needs to be amended to allow 4 free IFTs per month, while always allowing a last free IFT into the G Fund. Additional IFTs (More than 4 IFTs) should be allowed for a fee commensurate with industry standards.
Give back to government employees and military members control over their retirement account. It is their money after all.
weatherweenie
Well-known member
I just tried posting the petition link to the TSP Facebook page. The post has to be approved, so I doubt it will be posted.
I've already posted and promoted the post on our Facebook page (and Twitter). I don't think I should be the one to post the link on TSP's official Facebook page since they no likey the TSP Talk so much. It's been a long time, but we were the reason they moved to a 2 IFT limit years ago, and a lot of bad things were said on both sides.
But one of their loyal participants can post the link.You can either find and share our post on Facebook ...
https://www.facebook.com/tsptalk/
Or just post this into a page...
Please sign and forward as much as you can... https://petitions.whitehouse.gov/petition/allow-4-free-interfund-transfers-month-thrift-savings-plan
I've already posted and promoted the post on our Facebook page (and Twitter). I don't think I should be the one to post the link on TSP's official Facebook page since they no likey the TSP Talk so much. It's been a long time, but we were the reason they moved to a 2 IFT limit years ago, and a lot of bad things were said on both sides.
But one of their loyal participants can post the link.
You can either find and share our post on Facebook ...https://www.facebook.com/tsptalk/
Or just post this into a page...
Please sign and forward as much as you can... https://petitions.whitehouse.gov/petition/allow-4-free-interfund-transfers-month-thrift-savings-plan
RazorCat
Well-known member
Great idea on your part rreiche.
If we get it out to enough TSP participants we'll get our 100,000, and then some. I really believe one of best sources for getting this out to the most people with minimal effort is by contacting the leadership of the various government unions. There are hundreds of thousands of members who are invested in TSP. All of the unions maintain a Facebook page as far as I could see. I'm not on FB, but surely there's a way to post the link, and a short message on the FB pages for members to see.
Maybe Tom has an idea about posting the link thru TSPTalk.
If we get it out to enough TSP participants we'll get our 100,000, and then some. I really believe one of best sources for getting this out to the most people with minimal effort is by contacting the leadership of the various government unions. There are hundreds of thousands of members who are invested in TSP. All of the unions maintain a Facebook page as far as I could see. I'm not on FB, but surely there's a way to post the link, and a short message on the FB pages for members to see.
Maybe Tom has an idea about posting the link thru TSPTalk.
All, as the one who created the petition, i just wanted to give you an update. There are currently 1854 signatures on the petition. obviously we need about 98,000 more. Please continue to share with everyone. TSP participation is not required to sign the petition. Also, make sure everyone knows that when they sign it, they will receive an email requiring them to click on the link to verify their signing the petition. Thanks again.
All, as the one who created the petition, i just wanted to give you an update. There are currently 1854 signatures on the petition. obviously we need about 98,000 more. Please continue to share with everyone. TSP participation is not required to sign the petition. Also, make sure everyone knows that when they sign it, they will receive an email requiring them to click on the link to verify their signing the petition. Thanks again.
RazorCat
Well-known member
Finally was able to contact the local AFGE President. He was familiar with the petition, and with TSPTalk.
I sent him the link, and asked that he contact his Regional and National reps. to also pass it on. He said he would be happy to. AFGE has over 300,000 dues paying members, and they represent over 670,000 federal employees. All the locals maintain a Facebook page, so the word should get out quickly. Maybe we can reach, or surpass our goal if it gains some traction with the AFGE. I'm going to let it percolate for a few weeks, and then I intend to write the AFGE National President to ask for his support, and possibly have him write the TSP Board.
Fingers crossed.
I sent him the link, and asked that he contact his Regional and National reps. to also pass it on. He said he would be happy to. AFGE has over 300,000 dues paying members, and they represent over 670,000 federal employees. All the locals maintain a Facebook page, so the word should get out quickly. Maybe we can reach, or surpass our goal if it gains some traction with the AFGE. I'm going to let it percolate for a few weeks, and then I intend to write the AFGE National President to ask for his support, and possibly have him write the TSP Board.
Fingers crossed.
