Show-me Account Talk

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nnuut said:
Jim have we considered this!
Question:
If the TSP takes all of the L-Fund Rebalances and submits them in one large buy, WHY can't they do the same thing with the Member's IFTs on a daily basis and Save Money on their IFTs??????:cool: If it works for the "L" funds it will work for our IFTs, might take longer, but I don't care!!
They think we're STUPID right?:mad:
Click to expand...

Excellent question! Given that we have to have our IFTs in by 12:00 EST, I don't see that time should be an issue. In fact, why can't they just combine all L fund rebalances and other IFT's into one large buy?
 
Show-me said:
They are hoping we are STUPID or don't care to take the time to call them on it.

I see the problem as they have a crappy contract with Barclay and are being over charged.
Click to expand...

Or some of the board members plan one getting "consulting" jobs with Barclay after they leave the board!
 
presskh said:
Excellent question! Given that we have to have our IFTs in by 12:00 EST, I don't see that time should be an issue. In fact, why can't they just combine all L fund rebalances and other IFT's into one large buy?
Click to expand...

Good point. Our IFT's are obviously maintained in an automated system. Seems they could simply submit a batch job by account at the appropriate time of day.
 
Went to the F Fund because it the H&S pattern plays out the F may be the spot to be. Also, the F is looking like it is putting in a double bottom, just needs to break out and go, go, go.

STA is not a fan of stocks on Monday or Wednesday.

Problems still persist in the credit market and it sounds like the Banks are hiding the real loses. Time will tell. Durable good and housing missed.

Good luck and good weekend.
 
Federal Pensions: DOL Oversight and Thrift Savings Plan Accountability GAO-03-400 April 23, 2003 (17 pages)

"The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees, governed by the Federal Retirement Thrift Investment Board (the TSP Board). Recent events relating to the TSP Board's contract to upgrade TSP's record keeping system have raised questions about the management of the TSP. In light of the TSP Board's actions relating to the record keeping system and the recent submission of the TSP Board's legislative proposal that would enhance its independence, Congressional requesters asked us to examine federal oversight of the TSP Board. Specifically, our objectives were to (1) describe the Department of Labor's (DOL) oversight authority, under the Federal Employees' Retirement System Act of 1986 (FERSA) and (2) determine the actions DOL has taken in exercising its authority over TSP.
DOL is charged under FERSA with establishing an audit program of TSP and its operations. The audit program is to ensure that TSP assets have been reasonably safeguarded and that appropriate steps have been taken by TSP fiduciaries to comply with FERSA. If DOL finds that the Executive Director or TSP Board members have breached their fiduciary responsibilities, under FERSA, DOL cannot take legal action or obtain monetary penalties against the Executive Director and TSP Board members, although DOL may do so against other TSP fiduciaries. This limitation contrasts with DOL's authority in overseeing private pension plans under the Employee Retirement Income Security Act of 1974 (ERISA), which set certain minimum standards for pension plans sponsored by private employers and gives DOL authority to interpret and enforce those standards. Under ERISA, DOL is allowed to seek remedies to correct fiduciary violations. DOL exercises its authority over the TSP Board through recommendations developed in its audit program, which is contracted to a public accounting firm to perform. DOL makes its recommendations to the TSP Board and service providers. However, the TSP Board is not required to implement DOL's recommendations. Since the inception of the audit program, DOL has made 810 recommendations to the TSP Board and its service providers. According to our analysis of DOL and TSP data, the TSP Board has implemented roughly 95 percent of DOL's recommendations, with the majority of the remaining recommendations scheduled for implementation in 2003. While the TSP Board does not always concur with DOL's recommendations, the TSP Board and DOL have resolved disputed recommendations by developing an alternative to address the disputed reviewed areas. However, DOL has also raised issues of concern to the TSP Board, in addition to making recommendations, where the TSP Board has not resolved the issue with DOL. In these instances, there is no formal process with which to ensure that the TSP Board is held accountable for these actions."

Federal Retirement Thrift Investment Board: Many Responsibilities and Investment Policies Set by Congress GAO-07-611 June 21, 2007

"By statute, FRTIB is charged with developing educational materials for participants about TSP-specific issues. FRTIB also assists OPM, which is required to provide general retirement education to federal employees and train retirement counselors at federal agencies to provide information to federal employees. Private plan sponsors as well as the state and local government employee plan sponsors that we spoke with are responsible for educating participants about their plans, but often supply general retirement information as well. As the size and complexity of TSP have grown, an appropriate level of oversight of FRTIB is critical to ensuring that federal workers' retirement savings are properly managed. GAO previously recommended that Congress consider amending FERSA to require DOL to establish a formal process by which the Secretary of Labor can report to Congress issues of critical concern about actions of the Executive Director and Board members."
 
Federal Pensions: DOL Oversight and Thrift Savings Plan Accountability GAO-03-400 April 23, 2003 (17 pages)


Federal Retirement Thrift Investment Board: Many Responsibilities and Investment Policies Set by Congress GAO-07-611 June 21, 2007
 
HAPPY NEW YEAR to ALL!
progress.gif
 
A brand New Year!

2005 YTD 13.44%

2006 YTD 21.81%

2007 YTD 8.81%

Could have been a lot better, the first half of the year I was scared of what could happen and it never happened until the last half of the year.

I have only been actively managing my TSP the last three years and I have not done that bad. I made way more IFT that I wanted to, so I missed that goal. One goal was to beat the C fund or avoid a negative return. Got that one. The I fund was the wallflower of the year. The weak dollar really pushed it above the rest of the markets.

What will 2008 bring?

With the weak dollar the PPI and CPI are going to eat at folks paycheck. Thank you APWU for the COLA in my contract.

Energy is high and going higher. More demand. Drive the wheels off of my 1997 van, 1991 car, and 1990 truck. No "new car" for this kid.

The USD is weak and I see no reason for it to return to favor with OS investors. After the assassination in Pakistan the herd ran to Euros for safety instead of Dollars. Got Gold and Silver?

Commodities are at a all time high and demand continues to grow. Good thing my New Years resolution is to not eat anything white. Can't afford to eat breads because of the Ethanol. lol Bourbon is another story and I refuse to give it up.

Charts indicate a very rocky start to 2008 so I will sit on the side line for a while. Head and Shoulders every where and the apex is about to break out. If I was a conspiracy theorist I would say the beginning of the election year would be the right place for the market to tank and the end of the election year the right place for it to recover. Or, at least try to recover.

FRTIB is screwing me over by limiting the number of IFT. I will not give up, never ever. I will question everything they do. I will write another letter to my elected official voicing my concern of the lack of customer service and accountability comparable to the private sector. I will not leave this alone.

We may lose a battle, but the war I will win! Please join me.

Good luck everyone! Get those matching funds and max out that ROTH IRA.
 
I'm thinking of making a short play based of seasonality. Will have to get Starkbuck's first before I make a rational decision. lol
 
Show me:
I got this back...
So you mihgt want to delete last 2 posts.

I'll send this as a PM to you and Jamres, both:

-----Original Message-----
From: EBSA, Information_Quality_Official - EBSA [mailto:EBSA.Information_Quality_Official@dol.gov]
Sent: Wednesday, January 02, 2008 9:59
To: Hess, Matthew D CIV (NAVFACHQ)
Subject: RE: Please help save our FERS TSP Investment rights.
I am the Director of the Employee Benefits Security Administration's Office of Technology and Information Services. You directed your e-mail to an e-mail box designed to receive complaints about the accuracy of information we publish or post to our Internet site. For the purposes of receiving such complaints, I was designated as the Information Quality Official. Our office provides computer support to the other offices in the agency and does not usually become involved in matters relating to inquiries such as yours. Because of that, I am sending your e-mail to the office in this agency that does handle inquiries:

Office of Participant Assistance
Employee Benefits Security Administration
U.S. Department of Labor
200 Constitution Avenue, NW, Suite N-5625
Washington, DC 20210
Tel 202.693.8630
Fax 202.219.8141

I will ask them to respond to your e-mail.

I hope this helps you.

John P. Helms
Office of Technology and Information Services Employee Benefits Security Administration U.S. Department of Labor

-----Original Message-----
From: Hess, Matthew D CIV (NAVFACHQ) [mailto:matthew.d.hess@navy.mil]
Sent: Wednesday, January 02, 2008 9:15 AM
To: EBSA, Information_Quality_Official - EBSA
Subject: FW: Please help save our FERS TSP Investment rights.

Dear Sirs,
Please review, and request a Department of Labor audit of the subject letter, and please forward the attached letter, for action to appropriate and adjudged persons, including those in The House and Senate. This letter is being sent in order to help us save our FERS TSP Investment Plan rights - rights to as many Inter-Find Transfers as we may need.
You may not have noticed recent Policy, and Federal Ragister notices that were instituted during Thanksging and between Christmas and New Year's Holidays - perhaps intentionally due to Congess not being in session.
Thank You
VR

I have been having difficulties getting confirmation of recipt of this email, as follows:
-----Original Message-----
From: postmaster@eopds.eop.gov [mailto:postmaster@eopds.eop.gov]
Sent: Wednesday, January 02, 2008 9:02
To: Hess, Matthew D CIV (NAVFACHQ)
Subject: Delivery Status Notification (Failure)
This is an automatically generated Delivery Status Notification.
Delivery to the following recipients failed.
DavidlRostker@omb.eop.gov
 
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