Shares are bought when?

[air4cedude]

When are the shares actually purchased?

I thought I read somewhere that they were going to start making the transactions twice a month now?

 

[James48843]

1. When you place an interfund transfer request prior to noon, your order, along with everyone else's orders, are rolled up and transmitted to Barclays around 2:30 each day. Barclays then fills the order prior to 4 pm- except for the I fund, which is filled during the overnight when the foreign markets open. Your account should reflect the next morning the number of shares purchased or sold.

2. The "two per month" limit is something that is being proposed. It is not yet a regulation. Visit http://tspshareholder.org, read the newsletters, and then you'll see why this is NOT a satisfactory answer.

3. More data is available on the thread titled "TSP Limits".

And welcome. Don't forget to sign the petition against TSP limits at http://tspshareholder.org

 

[air4cedude]

Thanks it's great to be here! I actually wasn't asking about interfund transfers. I was referring to buying new shares. The money came out of my January pay check but my account doesn't show that I have more shares.

What Gives?

 

[Egotistic]

noob question... at what price are shares purchased/sold at? that days closing price? the prior days closing price?

If I made a IFT from "I" to "G" on Monday before 12pm eastern time, at what price would I be selling the I fund and at what price would I be buying th G fund?

What if the same scenario played out after 12pm eastern time?

What if I made a IFT over the weekend?

Im such a noob. :embarrest:

 

[Guest2]

noob question... at what price are shares purchased/sold at? that days closing price? the prior days closing price?

If I made a IFT from "I" to "G" on Monday before 12pm eastern time, at what price would I be selling the I fund and at what price would I be buying th G fund?

What if the same scenario played out after 12pm eastern time?

What if I made a IFT over the weekend?

Im such a noob. :embarrest:

Share prices are updated around 7:15pm (or after) on the TSP website.
Go to http://www.tsp.gov/rates/share-prices.html If you made an IFT
before noon, then check the prices after 7:15pm (est). You'll see what
you sold your I-Fund Money for & What you purchased your G-Fund for.
Your Funds will start trading on the next business day.

After 12 noon, your IFT will not be effective until the following day.
Example: Monday IFT 12:30pm check Tuesdays Prices after 7:15pm
Funds won't start trading until Wedneday.

 

[James48843]

Thanks it's great to be here! I actually wasn't asking about interfund transfers. I was referring to buying new shares. The money came out of my January pay check but my account doesn't show that I have more shares.

What Gives?

Answer: Different agencies have differing policies as to the exact timing of the deposit. However, in no case should we be talking weeks here.

For those agencies that pay bi-weekly, most deposit the funds on the same day as payday for their employees. My agency actually pays TSP the friday before the tuesday payday- so I see the shares show up when I call my account up on Saturday morning. My bank doesn't reflect the deposit unil Monday, which is still better than the official tuesday payday.

Your agency can vary. However, if they are not showing up in a timely fashion- call your HR office and ask hard questions about when you should see it showing up. Your situation sounds like trouble to me.

 

[James48843]

noob question... What if I made a IFT over the weekend?

. :embarrest:

If you make an IFT over the weekend, it's the same as anytime before noon on Monday. That is to day, your transaction is completed using the closing Monday prices overnight between monday and tuesday. Tomorrow morning at 7 a.m. you should be able to see how your transaction worked out.

 

[Guest2]

Thanks it's great to be here! I actually wasn't asking about interfund transfers. I was referring to buying new shares. The money came out of my January pay check but my account doesn't show that I have more shares.

What Gives?

There are so many scenarios, IFT's? L-Funds? etc.... To get better, more
private information concerning your problem, you might want to call the
Thrift line. Unless your willing to give out specifics concerning your Jan.
transactions, This is my recomendation.

 

[James48843]

When are the shares actually purchased?

I thought I read somewhere that they were going to start making the transactions twice a month now?

The twice per month is the proposed limit on interfund transfers of your existing dollars, not new purchases. You get new purchases in accordance with your agency policy- for example- civilians with bi-weekly pay purchase normally on their assigned payday. The military- who pays once per month, usually purchases at the end of month payday. I am not sure when military who are paid twice per month get new share purchases.

You can add money at anytime in a rollover from another 401K style fund, and you can make an extra loan payment back and buy shares at any time.

Hope that answers your question.

 

[James48843]

If you are air force (i just re=read your name) and January isn't showing up yet- then yes, you definately have a problem.

Contact your military pay office immediately.

 

[air4cedude]

Yes I'm AD Air Force and my account statement says my contribution transaction posted on 5 Feb.

So am I to assume that I bought those shares at the share prices as of the COB on Feb 5th?

 

[air4cedude]

Ok everything seems to be in order. The shares are bought on the 2nd of every month unless the 2nd falls on the weekend, in which case they'll be bought the following monday.

How does it work for civilians?

Another question though....even though my first contribution came out of January's pay check, the shares were bought in February. Does that mean that since my December 2008 contribution will have a posting date of Jan 2009, that contribution will count towards 2009? I want to make sure I'm maxing out the $15,500 for 2008.

 

[BlueMax]

O

Another question though....even though my first contribution came out of January's pay check, the shares were bought in February. Does that mean that since my December 2008 contribution will have a posting date of Jan 2009, that contribution will count towards 2009? I want to make sure I'm maxing out the $15,500 for 2008.

The amount that shows on your Leave and Earnings Statement, is the amount that is reported to IRS. Since you are paid monthly, the TSP savings amount should be exactly 1/12th of your total desired contribution. In your case the first reported contribution, would be January LES and the last would be December, anything deducted before January 2008 is considered part of last years allowable max., as would anything deducted after December 2008 will be part of 2009's allowable max. It is immaterial, when the TSP posts.

 

[frokker]

Military allotments are based on your monthly pay. You get paid on the 1st and 15th. So if you have say a $100 allotment going out, $50 is deducted on the 1st, $50 on the 15th and is then released at the end of the month. That is where your lag time is as far as it being put into your TSP account. So around the 2nd of every month you'll have a deposit in your TSP.
Civilians are not paid monthly like the Military so their TSP deposits are made afer each payday.

 

[ssimon2000]

I'm an AF civilian, and I've always found shares are purchased the day before payday.

What happens when that doesn't happen? For example, July 11 was payday, but as of now, no shares purchase has been made. Who do I contact to find out what happened?