TSP Late Contributions

[craigerv]

This past pay period I noticed that my contribution didn't make it to the TSP on time. Usually I am paid on Thursday night and my TSP account reflects the contribution by Friday morning. This past pay period is the first time that it has been late, showing up today instead of last week. Has anyone else had this happen? It made a me a little concerned because there was no notice.

 

[craigerv]

This past pay period I noticed that my contribution didn't make it to the TSP on time. Usually I am paid on Thursday night and my TSP account reflects the contribution by Friday morning. This past pay period is the first time that it has been late, showing up today instead of last week. Has anyone else had this happen? It made a me a little concerned because there was no notice.

Just answered my own question. My agency just sent out the following notice:

"A problem was encountered with the transmission of the TSP pay files for pay period ending 09 August 2014. These files are normally posted in TSP the Thursday following pay day. Due to the large number of retirement code corrections Payroll had to create a special script to run against the files before they could be sent out. The script has been completed and the files were sent to TSP on Friday, 15 August 2014. TSP contributions and loan payments should appear in your TSP account within the next couple of days.

As for missing earnings, TSP does not consider earnings missed unless the deposit is over 30 days late."

 

[jpcavin]

Just answered my own question. My agency just sent out the following notice:

"A problem was encountered with the transmission of the TSP pay files for pay period ending 09 August 2014. These files are normally posted in TSP the Thursday following pay day. Due to the large number of retirement code corrections Payroll had to create a special script to run against the files before they could be sent out. The script has been completed and the files were sent to TSP on Friday, 15 August 2014. TSP contributions and loan payments should appear in your TSP account within the next couple of days.

As for missing earnings, TSP does not consider earnings missed unless the deposit is over 30 days late."

It's interesting to note that the loan payments went out in time...even though they say both were late. It's just great that our contributions made it to our accounts on a market up day...

 

[burrocrat]

i wonder if they calculate losses with the same 30 day window as earnings? they seem pretty quick about that. if tsp was a private brokerage, would you keep your money there?

 

[dpmp]

This past pay period I noticed that my contribution didn't make it to the TSP on time. Usually I am paid on Thursday night and my TSP account reflects the contribution by Friday morning. This past pay period is the first time that it has been late, showing up today instead of last week. Has anyone else had this happen? It made a me a little concerned because there was no notice.

Same here. That was the last pay period. This pay period also exhibits the similar delay. Pay was deposited to TSP and showed up in account on Thursday, but loan payment didn't make it back to TSP on Friday (today).

I am wondering if it is some type of software issue. Nonetheless, the leave and earning statement show money was deducted, but TSP's "recent activities" shows money has been deposited, but no shares gained. I'm wondering if the money was/is somewhere in lala-land, or our government has been "temporarily invisibly borrowing" it in the process for quick payment to the Fed.

 

[dpmp]

Just answered my own question. My agency just sent out the following notice:

"... Due to the large number of retirement code corrections Payroll had to create a special script... As for missing earnings, TSP does not consider earnings missed unless the deposit is over 30 days late."

So the entire population of the TSP participants pay for this "corrections"?

 

[Bquat]

Wait until you're on the other end. TSP draws your money out two to three days before payday then you see your bank deposit on payday. They have two days to trade with it.