time table of a snail mail IFT?

[Wildboar53]

I have been in the TSP since its inseption. I have never used mail to make any IFT's -- back then I used the phone.
That being said -- what is the time line for makeing a snail mail IFT?

My take on it :
Two or three days for letter to get there.
One day for it to be processed?
then when would it actually be executed? same day? next day? day after that?

 

[ATCJeff]

I have been in the TSP since its inseption. I have never used mail to make any IFT's -- back then I used the phone.
That being said -- what is the time line for makeing a snail mail IFT?

My take on it :
Two or three days for letter to get there.
One day for it to be processed?
then when would it actually be executed? same day? next day? day after that?

dunno, maybe you can do a test?

Jeff

 

[Wildboar53]

doing some research instead of yelling help me:laugh:. this is from the TSP website:


How do I make an interfund transfer?
To request an interfund transfer, use this Web site or the ThriftLine, or submit Form TSP-50, Investment Allocation, (Form TSP-50 is not available on this Web Site) to the TSP. Do not submit an Investment Allocation form to your agency. If you have not previously invested in the F, C, S, I, or L Funds, you must acknowledge the risk of investing in these funds before you are allowed to proceed with your interfund transfer. To request a transfer, follow the instructions and enter the percent of your total account balance that you want to have invested in each fund after the transfer is completed. Percentages can be stated in increments as small as 1 percent and must add up to 100 percent. Whether you are using this Web site or the ThriftLine, be sure to follow the instructions to confirm the percentages or your transfer will not be effective.
When will my interfund transfer be effective?
If you request an interfund transfer on this Web site or the ThriftLine before 12 noon eastern time, your request will ordinarily be processed and posted to your account at the close of business on that day. Requests made after 12 noon eastern time will ordinarily be processed and posted to your account at the close of business on the following business day. If you use Form TSP-50, your request will generally be processed and posted to your account within 5 business days of the day it is received by the TSP.
How will I know the result of an interfund transfer request?
After your transfer has been made, the TSP record keeper will send you a confirmation of the interfund transfer. This confirmation will show you the percentage and dollar distribution of your account balance in each of the TSP funds — both before and after the transfer. The after-transfer percentages on your confirmation notice should be the same as those you requested on this Web site, the ThriftLine, or Form TSP-50. Once you receive confirmation of your interfund transfer, you must report any errors to the TSP within 30 days of receipt of the written notice.

Note: If you make an interfund transfer on this Web site, you will see a confirmation page after your request. We recommend that you print that page for your records.

So it looks like would take one week min for a IFT to post to account by mail.

 

[BlueMax]

doing some research instead of yelling help me:laugh:. this is from the TSP website:


How do I make an interfund transfer?
To request an interfund transfer, use this Web site or the ThriftLine, or submit Form TSP-50, Investment Allocation, (Form TSP-50 is not available on this Web Site) to the TSP. Do not submit an Investment Allocation form to your agency. If you have not previously invested in the F, C, S, I, or L Funds, you must acknowledge the risk of investing in these funds before you are allowed to proceed with your interfund transfer. To request a transfer, follow the instructions and enter the percent of your total account balance that you want to have invested in each fund after the transfer is completed. Percentages can be stated in increments as small as 1 percent and must add up to 100 percent. Whether you are using this Web site or the ThriftLine, be sure to follow the instructions to confirm the percentages or your transfer will not be effective.
When will my interfund transfer be effective?
If you request an interfund transfer on this Web site or the ThriftLine before 12 noon eastern time, your request will ordinarily be processed and posted to your account at the close of business on that day. Requests made after 12 noon eastern time will ordinarily be processed and posted to your account at the close of business on the following business day. If you use Form TSP-50, your request will generally be processed and posted to your account within 5 business days of the day it is received by the TSP.
How will I know the result of an interfund transfer request?
After your transfer has been made, the TSP record keeper will send you a confirmation of the interfund transfer. This confirmation will show you the percentage and dollar distribution of your account balance in each of the TSP funds — both before and after the transfer. The after-transfer percentages on your confirmation notice should be the same as those you requested on this Web site, the ThriftLine, or Form TSP-50. Once you receive confirmation of your interfund transfer, you must report any errors to the TSP within 30 days of receipt of the written notice.

Note: If you make an interfund transfer on this Web site, you will see a confirmation page after your request. We recommend that you print that page for your records.

So it looks like would take one week min for a IFT to post to account by mail.

At least a week, before we had online service, I had some IFTs take six weeks.

LOL

 

[FUTURESTRADER]

assuming we make 3 IFTs, and get relegated to snailmail, can we still make IFT back in to G online? Sounds like a programming nightmare.

 

[Wildboar53]

Went to the personel guy today at end of work. He has about 200 form TSP-50's on hand. When I explained why I was interested in them he said "WTF, its your money to move as much or as little as you want."
And he is in CSRS.
I took a few forms and will be sending one out Certified Mail to start the test run on how long it will take them to process a snail mail IFT. The reply to the transfer is by snail mail too :toung:.

 

[James48843]

You guys are not thinking creatively enough. Think big. Out think them.

How about this:


It is time to begin to prepare- just in case they try to actually cut someone off.

We need to find a Postal Employee in Birmingham Alabama, who has a family member who wants to make some money.

The TSP address for mail in transfers is in Birmingham.

We need someone who is close to the post office there, who will take OUR e-mail information, and sit down and fill in some ovals, put our requests in envelopes, lick'em, stamp'em, and then drop them off at the post office in the morning.

That will eliminate a couple of days in the transfer time. And we can pay them a small for the work- (lets see- what is it worth to you, Mr. or Mrs. Birmingham Alabama resident?) to do it for us.

Now is the time to get this person identified and ready to do the work- it COULD become a nice little second income for someone who lives in Birmingham-

If you are a member of National Mail Handler's Postal Union in Birmingham http://npmhu317.rocket-city.us/
or the American Postal Workers Union in Birmingham, http://www.angelfire.com/al2/balocal303/

give me a shout.

please let me know- I need to talk to you and set you, your wife( or husband, or cousin Jimmy, etc) up.


Any takers? PM Me.

 

[Wildboar53]

I am not trying to out think them. I am exploring the way the system is set up now. If you cant discribe the problem accurately then constructive solutions wont follow. Yes we know getting mail to TSP will take time but what we dont know is how long it will take TSP to process a mail request. That is what I am looking to find out.

 

[Silverbird]

Hrmm. Just a thought. If a IFT is worth more than the cost of USPS express mail with signature, maybe it would be worth doing that, as you would know it showed up the next day (nothing against FEDEX and UPS but it's a post office box address)? "Sign here, please." If it takes days on their end to process, then you can complain as they can't say they didn't get it.

Only works for domestic mail, and does not address problems of mail for overseas postings, still trying to think on that one.