Transfers

[johnnyatc]

A quik question regarding interfund transfers. If you put in a transfer before 12:00pm cut off, do you get the price of the new fund you go into or the fund price of the one you got out of that day? I've noticed sometimes that I don't get any movement in price that day. Meaning my balance is the same as the prior days balance no matter what the fund price is. Any help would be welcome, thanks.

Scott.

 

[SkyPilot]

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 2 business days of the day it is received by the TSP.

From TSP Website

 

[tsptalk]

Welcome Johnnyatc! Even though the share prices are updated by about 7:30 PM ET each night, the account balances may not be updated until the following morning. That may be why you don't see a change.

 

[ATCJeff]

A quik question regarding interfund transfers. If you put in a transfer before 12:00pm cut off, do you get the price of the new fund you go into or the fund price of the one you got out of that day? I've noticed sometimes that I don't get any movement in price that day. Meaning my balance is the same as the prior days balance no matter what the fund price is. Any help would be welcome, thanks.

Scott.

Sorta both. You sell at the closing price(old share) and buy at the closing price(new share). The dollar amount will never change, only the number of shares. Depending if you are going from a lower cost fund to higher cost fund, your shares would be smaller. If you are going from a high cost fund to a low coist fund, then you would own more shares. The dollar amount would be the same.

 

[johnnyatc]

Thanks ATCJeff, that clears things up a lot. I appreciate the info.