PETITION TO INCREASE # of IFT's

[rreiche]

Does anyone else have any ideas on how to present this petition to a large group of people? we need at least 10,000 signatures for the petition to go public on the website where anyone going to the petition page will be able to see it. we have just over 2000 now.

 

[nasa1974]

Well it's good to know they have no interest in listening to the participants regardless of the outcome of the petition. Sounds about right.

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.

 

[jkenjohnson]

already did. still need a lot of people to sign

 

[RazorCat]

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.

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.

 

[RazorCat]

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.

 

[nasa1974]

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.

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.

 

[zzzgator]

Article today: The Hiring Freeze Takes a Toll on One Benefit, a Petition for a TSP Tweak and More - Pay & Benefits Watch - Pay & Benefits - GovExec.com

 

[tsptalk]

Thanks. Saw that gator. We were talking about it earlier.

 

[FogSailing]

Just FYI. I forwarded the WH petition and the Gov. Exec article to AFGE HQ's, Mike Causey, and Fed Smith and friends at DOE and asked them to please get the word out to federal staff. No idea if anybody will do anything but at least I tried. 2MorYrs had contacts at NARFE. Perhaps he can get them involved.

FS

 

[tsptalk]

Thanks FS. This is bringing some of us down memory lane. People like Causey hated us back then so I'm sure he won't help. They are part of the world where big banks and government know better than us stupid little people.

 

[rreiche]

Morning update. 2186 signatures.

 

[RazorCat]

I'll give the local Union President a few days, and give him a call back. I still believe getting the word out to the various Union officials is one of the bet ways to reach the largest single group. And they're normally very pro-active if they deem it beneficial to their members.
Have a great weekend everybody.

 

[rreiche]

I just shared this with my cousin-in-law (publicly known as the Picasso of Snap Chat). He has literally more than 500,000 followers. we shall see how that goes.

 

[Cactus]

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.” ..."

Actually, our index funds are mutual funds. You go to sell and you get the share price they determine at the end of the day. It certainly isn't an ETF or stock that you can sell during market hours for a specific asking price.

 

[rktect1]

Morning update. 2186 signatures.

How is it possible that this is not getting more traction?

 

[tsptalk]

Apathy and ignorance. :aargh4:

 

[Intrepid_Timer]

For those that don't know, A LOT of company retirement accounts require you to hold a fund for anywhere from 30 to 180 days. I'd hate to have to deal with those restrictions. This is the policy for Mutual of America:

[FONT=Arial, Helvetica, sans-serif]"What Is Frequent Transfer Activity?[/FONT]
[FONT=Arial, Helvetica, sans-serif]Mutual of America generally considers frequent transfer activity to have occurred if any purchase or transfer of approximately $10,000 or more in any investment fund and/or the Interest Accumulation Account under your annuity contract(s) is followed by redemptions of approximately $10,000 or more from that fund within a thirty (30) day period.

It also includes the reverse transaction into the same fund (e.g., redemption of approximately $10,000 or more from any fund, followed within thirty (30) days by a replacement of approximately $10,000 or more, regardless of the source). We monitor transfers in a fund across all of a customer’s annuity contracts. Therefore, a pair of transactions in the same fund is considered a frequent transfer even if each portion involves different annuity contracts."

Would I like a couple of more IFTs per month? Absolutely! However, that is available outside of TSP and nothing is keeping you from opening an account outside of TSP, either a taxable account or not. All you have to do is get off your duff and do it.................. [/FONT]:ban:

 

[rreiche]

2302 signatures this morning. it does not look like we will get the support we need. If this petition was about saving pygmy geckos off the coast of some far away land i bet we'd get half a million signatures.

 

[burrocrat]

2302 signatures this morning. it does not look like we will get the support we need. If this petition was about saving pygmy geckos off the coast of some far away land i bet we'd get half a million signatures.

i love pygmy geckos! as long as i don't have to eat them more than twice per month.

 

[James48843]

I really hate to disappoint anyone- BUT- when we did the petition at the time of the changes to the actual rule, we had around 4,000 signatures- and submitted them in accordance with the rules of the actual Federal Register / Administrative Procedures Act.

This petition is not a regulatory petition, and the Whitehouse Site has no legal authority to require any action. Just look at the current state of the Whitehouse Petition to require Trump to make his tax returns public- there are more than a MILLION signatures on that petition, and ...NOTHING.

https://petitions.whitehouse.gov/pe...on-needed-verify-emoluments-clause-compliance

All the Whitehouse.gov petition site is- (as set up by President Obama) is a way to ASK the government to do something- or make a statement related to something, AND there is no legal ramifications if they decide, like they have with the Taxes question- to simply ignore the will of the people.

We don't live in a democracy. Sorry.