We need to get as many objections as possible to the FRTIB. Here is the one I faxed off today. Anyone needing ammunition...feel free to use all or part of it. Good luck. Maybe...just maybe we can accomplish something. Sounds like we have the Unions with us!!!! Finally
March 25, 2008
TO: Gregory T. Long
Executive Director, Federal Retirement Thrift Investment Board
RE: Account Number: XXXXXXXXXXX
I respectfully request that you reconsider prohibiting me from making interfund transfers electronically effective March 31, 2008.
Per your letter to me dated February 2008, which I didn’t receive until February 20, 2008, you indicated that “The Board has approved a policy that would limit participants to two interfund transfers per month, with unlimited subsequent transfers to the G fund.” You further stated that you were “ concluding the normal public rulemaking process …, which includes publishing the proposed regulations in the Federal Register (and on www.tsp.gov) and evaluating the comments received. Once the final decision is made regarding the approach to be taken, we will announce it to all participants.” This tells me that you would formally announce the limited interfund transfers after the final decision is made.
I am not happy with your approach to limiting our ability to protect my retirement funds, however I decided to abide by your request even though it had not become final. I, therefore, made no more interfund transfers from the time I received your letter until March. I kept track of my interfund transfers on the autotracker portion of a web site www.tsptalk.com. So I know when each interfund transfer was made.
Those records indicate that I was in the G fund on February 1, 2008. I made an interfund transfer effective February 13, and another one effective February 14. The last interfund transfer I made for February was into the G fund effective February 15, 2008. I did request an interfund transfer on February 29…effective March 1st, 2008. But that transfer did NOT take place and was NOT effective UNTIL March 1st.
I received a subsequent letter from you dated March 13, 2008 erroneously indicating that I exceeded the three IFT limit in February, and that I would be prohibited from making IFTs electronically after March 31, 2008. As you can see, I only made two IFTs in February, and a last one going to the G fund as permitted. I followed your instructions even though I was opposed to them and, in my interpretation of your letter, they were not in effect until a final decision was made and it was announced to all participants.
I am retired, with no ability to increase my TSP funds. The only way I have to ensure my retirement savings are working for me is by having control of that resource…to direct and redirect those valued funds. This restriction will result in a tremendous burden on me, and keep me from effectively managing my retirement resources. So, please consider the facts as stated and reinstate my ability to electronically transfer my Thrift Saving account to give me the ability to preserve my retirement funds.
Sincerely,
Craig R. Huss
March 25, 2008
TO: Gregory T. Long
Executive Director, Federal Retirement Thrift Investment Board
RE: Account Number: XXXXXXXXXXX
I respectfully request that you reconsider prohibiting me from making interfund transfers electronically effective March 31, 2008.
Per your letter to me dated February 2008, which I didn’t receive until February 20, 2008, you indicated that “The Board has approved a policy that would limit participants to two interfund transfers per month, with unlimited subsequent transfers to the G fund.” You further stated that you were “ concluding the normal public rulemaking process …, which includes publishing the proposed regulations in the Federal Register (and on www.tsp.gov) and evaluating the comments received. Once the final decision is made regarding the approach to be taken, we will announce it to all participants.” This tells me that you would formally announce the limited interfund transfers after the final decision is made.
I am not happy with your approach to limiting our ability to protect my retirement funds, however I decided to abide by your request even though it had not become final. I, therefore, made no more interfund transfers from the time I received your letter until March. I kept track of my interfund transfers on the autotracker portion of a web site www.tsptalk.com. So I know when each interfund transfer was made.
Those records indicate that I was in the G fund on February 1, 2008. I made an interfund transfer effective February 13, and another one effective February 14. The last interfund transfer I made for February was into the G fund effective February 15, 2008. I did request an interfund transfer on February 29…effective March 1st, 2008. But that transfer did NOT take place and was NOT effective UNTIL March 1st.
I received a subsequent letter from you dated March 13, 2008 erroneously indicating that I exceeded the three IFT limit in February, and that I would be prohibited from making IFTs electronically after March 31, 2008. As you can see, I only made two IFTs in February, and a last one going to the G fund as permitted. I followed your instructions even though I was opposed to them and, in my interpretation of your letter, they were not in effect until a final decision was made and it was announced to all participants.
I am retired, with no ability to increase my TSP funds. The only way I have to ensure my retirement savings are working for me is by having control of that resource…to direct and redirect those valued funds. This restriction will result in a tremendous burden on me, and keep me from effectively managing my retirement resources. So, please consider the facts as stated and reinstate my ability to electronically transfer my Thrift Saving account to give me the ability to preserve my retirement funds.
Sincerely,
Craig R. Huss
