TSP board to limit interfund transfers

[Frixxxx]

3,800,000 enrollees in the TSP. Minus the 3000 enrollees who are making it such a financial burden on the system. That leaves 3,797,000 people who are making less IFT's than the rest of us? Please! If these 3,797,000 are just letting their money sit, then TSP really doesn't want members doing anything with their accounts. And money sitting around is their true goal. And where is that money sitting? In a closet? Under a mattress? Im sure it is collecting some sort of interest rate in a nice account somewhere.

Sugar.....and spice,

You are seeing things from my perspective.

Now let me pose this little nasty for everyone:

If 3000 (we should take on the Persians) are causing this, what percentage of the 3.8 million are doing absolutely nothing with their accounts and the contract is recieving "free" administration charges.

Anyone?

I want pure numbers for research on this one. I want an accountant, auditor, and lawyer to review the numbers. I know this is the land of opportunity, but it shouldn't get this crazy. If anything, maybe the 3000 people actively trading could be the marketing campaign for TSP and not the added expense of the DVD for beginners. That would cover our trade costs!

 

[offtrack]

When you see a new street beautification project, do you admire the beauty or do you wonder what politics went into granting the contract for planting a few trees? The TSP wasn't designed for us to make money. It was designed to generate market capital - presently 1/4 trillion dollars since the TSP inception. It's kind of a reverse socialism. Instead of the government owniing part of the corporations, the corporations grabbed a part of our pay. The liquidity influx from our pensions, other pension plans, and overseas did not generate an increase in steady dividends as would be expected from long established stable companies. It has only fueled price speculation, which is not what I'd normally want for a retirement account. Limitations on our investment options, the push for L funds, and the restriction of transfers gives more control of the liquidity to those corporations.
If they wanted to give us a retirement perk then every citizen would have the option of saving and writing off the maximum allowable IRS retirement contribution and then investing it in their own personal savings option.

 

[fabijo]

Re: Board Meeting Minutes

How does one find out the names of the boards members and to obtain the minutes of the Board meeting?

The meeting minutes are available on this page:
http://www.frtib.gov/FOIA/index.html

The first page of each report says who was present.

 

[sugarandspice]

I guarantee the 3000 people they are targeting are the best spokespeople for the TSP. They are the ones using the system to their advantage and educating themselves on how it works. My account has taken a major dive this year but still I know the advantages of having unlimited access to move. The "3000" are the best advertisers for TSP.

 

[sdouglas3]

Okay, I admit I am one of the 3000 members who have traded on a daily basis. But, whats the point in all this? Is the TSP board afraid that all 3.7 million participants are going to trade at once one day? I have a suggestion for the board. After the second transaction during the month. Charge me a small fee (ex. $7 or so) for each transaction thereafter. My risk, my gain (loss). But, don't keep me from being able to trade if I want to. This is a capitalistic society. Don't limit my freedom to make myself as rich or broke as I can get.

Steve

 

[tsptalk]

Is the TSP board made up of governemnt employees, contractors, both?

 

[tsptalk]

After the second transaction during the month. Charge me a small fee (ex. $7 or so) for each transaction thereafter.

They don't want to risk you pushing the wrong button.

 

[offtrack]

Is the TSP board made up of governemnt employees, contractors, both?

http://www.tsp.gov/features/def_ch1-board-members.pdf

It appears you have to copy and link the post to get it to work

base pay 130k -150k I doubt that includes bonuses

 

[sdouglas3]

They don't want to risk you pushing the wrong button.

Isn't there only one button to push? LOL

 

[sugarandspice]

How about an annual fee? 2-3-500 bucks for unlimited IFT? How many trading days are there in a year? Maybe 250? There is a solution to keep traders happy. It is just whether or not TSP wants to do it. And that depends on their true reasons for restricting IFT's. Frizz is right. We need the numbers. And TSP won't give them. At least not all of them.

 

[TRAFFIC_DOG]

Right now the 3,000 of "us" are no more than fleas catapulting themselves from the sidewalk against the granite facade of the sears tower.

I may wait to file suit for "material damages" along with "false and misleading statements" used to support changes directed for the financial benefit of non TSP participant entities who have excercised undue and illegitimate influence on the TSP board.

I have outperformed the funds' return every year that I have actively traded my account.

I am sitting on 12.5% gains YTD, having been OUT of the market more than in.

I vowed NEVER AGAIN to allow the maket action of 2000-2003 to decimate my retirement due to a buy and hold strategy.

With a law suit brings the opportunity for DISCOVERY, which would otherwise be impossible.

They are F'ING with MY future! Let's see the what these maggots have really been saying to each other, and why.

 

[TTMartin]

This certainly doesn't seem to indicate there is a problem:

http://www.tsp.gov/rates/tspexpenseratio2006.pdf

 

[Cortez]

I have outperformed the funds' return every year that I have actively traded my account.

I am sitting on 12.5% gains YTD, having been OUT of the market more than in.

I vowed NEVER AGAIN to allow the maket action of 2000-2003 to decimate my retirement due to a buy and hold strategy.

I find it ironic that this decision comes when the stock market is on the precipice of being a bear market - the exact period where greater nimbleness is required to preserve capital in long only accounts.

 

[mojo]

Expense ratio 06. I was trying to remember where I had seen this before, thanks TTMartin. 30 cents per $1000 investment in 06.

 

[Skidude78]

fire them all

First of all the board is there to serve us. I have done much better in my personal Roth than I have in the TSP. My Roth IRA is a regular trading account. I would be into shifting all of my TSP funds into my Roth. Because of modern technology it's very easy and cheap to make transactions. I want the board to know this is my money and not theirs. If they can not serve all of their customers, they need to quit. These are probably the same people who brought us subprime mortgages. Why don't we talk about the lousy selection of funds we have compared to other plans. I say we get a new contractor who can give us a wider selection of funds (exchange traded funds would be better) and not limit our transactions. I say fire the board. They are out of touch. We need some responsible people to manage this very important program. Who do I write? How do I get on the board.
This is our money, isn't it?

 

[fcassiday]

What an outrage!!!! The pompous arogance of the TSP Board "acting to protect everybody" is restricting "anybodies'" right to make more than 2 transfers per month. Oh please!!!!! The constant rebalancing required by the L funds adds more to the cost of operations for the TSP Board than the "2 or 3 thousand" who trade frequently. I am a retired CSR annuitant who has saved ever since it was an option, and I can honestly say that I have found the administration of TSP to be the most un-professional and self serving bunch of bureaucrats that I've had to deal with. I can not relate all the negative experiences I've encountered over the last approximately 25 years. Not enough room here! I'll just ask a question - How much of that $984,000 went to the 5 Board of Directors, and the Executive Director??? Not bad for attending a meeting once in a while. Yet we're driving up the costs???? I'm also curious how much it cost to transfer the accounting for TSP from the National Finance Center in New Orleans??? To say these folks are looking out for our interest is like saying Michael Vick was looking out for dogs!

 

[saturneptune]

Two questions come to mind.
1. Can we transfer our entire TSP to a private broker, such as AG Edwards if we still are working?
2. If we can, would we have to wait until 59 1/2 to withdraw. Now we can the year we turn 55 if retired?

Any response would be appreciated.

The best weapon would be to put these clowns out of business.

bump

 

[fabijo]

Can we transfer our entire TSP to a private broker, such as AG Edwards if we still are working?

I was also looking into this. So far, the option I figure would be to leave the government, roll it over into an IRA, then try to get hired again!

 

[Birchtree]

I think I'll just keep quiet on this matter.

 

[Show-me]

Two questions come to mind.
1. Can we transfer our entire TSP to a private broker, such as AG Edwards if we still are working?
2. If we can, would we have to wait until 59 1/2 to withdraw. Now we can the year we turn 55 if retired?

Any response would be appreciated.

The best weapon would be to put these clowns out of business.

Quick answerers

1. No. Only if you retire of quit.

2. You can not so the question is mute.