So I made my 2nd IFT....

[Nate]

So far birch i've only opened an individual account outside of tsp and trying to build up some kind of base there. Isnt a roth similar to the tsp in the sense that the contributions are pre-tax and you pay upon withdrawl?

 

[tsptalk]

Isnt a roth similar to the tsp in the sense that the contributions are pre-tax and you pay upon withdrawl?

That's a traditional IRA. Roth deposits are made with after tax money. Roth withdrawals are tax free.

 

[Nate]

ahh...thanks!

 

[Birchtree]

The nice thing about a Roth IRA is that you can trade into deliriumousness without any IRS paperwork. It just takes awhile to build a base to make any money - but sometimes slow money is the best money. ANF is shaking my socks off today.

 

[XOMek]

I've used my two IFTs for April. If I want to reallocate starting May 2, can I submit an IFT before 12:00 on Friday, Apr 29, with an effective date of May 2? I guess the question is, does this count as an April or May IFT?

 

[Frixxxx]

I've used my two IFTs for April. If I want to reallocate starting May 2, can I submit an IFT before 12:00 on Friday, Apr 29, with an effective date of May 2? I guess the question is, does this count as an April or May IFT?

May, as it will be effective on the 2nd.

 

[Scrappy]

May, as it will be effective on the 2nd.

Frixxxx,

why would an IFT in Apr before 12 not be effective for that days closing?

It is early, am I confused?

I would think XOMek couldn't make an IFT for May until after 12 on 29 Apr or before 12 on 2 May?

 

[Frixxxx]

Frixxxx,

why would an IFT in Apr before 12 not be effective for that days closing?

It is early, am I confused?

I would think XOMek couldn't make an IFT for May until after 12 on 29 Apr or before 12 on 2 May?

OK, here's the deal.
February 2010 - I used both IFTs in the first week. Don't ask why.
On 26 February @ 1000, I executed an IFT request. The monies wouldn't move until the 1st of March. The system accepted the transaction.
I did this. and it worked.
But TSP says:
"Interfund transfers made on the TSP website or the ThriftLine before 12 noon Eastern time are generally processed that business day. You will receive a confirmation of your interfund transaction. " - TSP Website

Since the 29th of April is on the Friday at the end of the month, it should be processed as a request and executed the following trading day ~ 2 May.

Now, here's the kicker: I have tested the IFT transfers when I have already used my 2 IFTs. If it will not let you move funds, then they fixed the system. BUT it worked for me.

So, XOMek, if you are willing to be a 2011 test the IFT system for us, then try and make an IFT on Friday and post your results.

 

[XOMek]

So, XOMek, if you are willing to be a 2011 test the IFT system for us, then try and make an IFT on Friday and post your results.

I was going to try and put in an IFT tomorrow morning so I'll post tomorrow (or Monday?) when I know for sure whether it worked.

If it doesn't accept an IFT does the system just shoot back an error message saying you're over the limit?

 

[Birchtree]

No, they send someone in size 12 jump boots to reinforce their message.

 

[Frixxxx]

I was going to try and put in an IFT tomorrow morning so I'll post tomorrow (or Monday?) when I know for sure whether it worked.

If it doesn't accept an IFT does the system just shoot back an error message saying you're over the limit?

If you are over the limit, then yes, it tells you immediately.:blink:

 

[RealMoneyIssues]

No, they send someone in size 12 jump boots to reinforce their message.

Hmmm, I fit that profile...

 

[Nate]

0415am Pacific time. IFT attempt:
You cannot transfer among the other funds until after noon eastern time on the last business day of this month.

 

[Sensei]

0415am Pacific time. IFT attempt:
You cannot transfer among the other funds until after noon eastern time on the last business day of this month.

Which means you won't be in the new fund until Tuesday (well, COB Monday), and the IFT would count in May. Might as well wait until Monday morning to see which direction the wind's blowing before pulling the trigger.

 

[Frixxxx]

So Nate,

For verification:

You used two IFTs in the month of April. On the last trading day of the month (April 29th)

You received the following error when trying to trade before 1200 EST:

You cannot transfer among the other funds until after noon eastern time on the last business day of this month.

True?

 

[Nate]

Roger!

Probably insignificant, but 3 IFT's actually in April:
S fund
I fund
back to G fund

This morning 0415 PST got the error message explaining I've already used my two allowed IFT's for the month.
I've got class at 0900 PST and will not be able to try again until appx 1130'ish PST

 

[Nate]

1320 PST my IFT went through. Class went longer than expected.

 

[Frixxxx]

That counts as a May IFT since it was AFTER 1200 EST.