TSP on Dec 31, 2010

[tsptalk]

Conflicting information on TSP.gov. Both of these are posted on the site - different pages.

Friday, December 31, 2010: The Thrift Savings Plan will be closed on Friday, December 31st in observance of New Year's Day. Transactions that would have been processed Friday night (December 31st) will be processed Monday night (January 3rd), at Monday's closing share prices.

December 31 – Because the stock and bond markets will be open on December 31, the TSP will process transactions. However, since December 31 is a Federal holiday, the TSP call centers will be closed. In addition, participants will not be able to allocate or transfer money into the L 2010 Fund starting at 12:00 noon on Friday, December 31, 2010. On Friday night, the L 2010 Fund will retire, and all money in the L 2010 Fund will be moved into the L Income Fund

 

[tsptalk]

I called the TSP thrift line to get confirmation of the conflicting info, and I was totally BS'ed. The lady was very nice, but she did not know what to make of the conflict and instead of asking someone else, she winged it thinking I would accept whatever she said.

Because of this info on the news page:

December 31 – Because the stock and bond markets will be open on December 31, the TSP will process transactions. However, since December 31 is a Federal holiday, the TSP call centers will be closed. In addition, participants will not be able to allocate or transfer money into the L 2010 Fund starting at 12:00 noon on Friday, December 31, 2010. On Friday night, the L 2010 Fund will retire, and all money in the L 2010 Fund will be moved into the L Income Fund

She tried to tell me that this information on the share price page....

Friday, December 31, 2010: The Thrift Savings Plan will be closed on Friday, December 31st in observance of New Year's Day. Transactions that would have been processed Friday night (December 31st) will be processed Monday night (January 3rd), at Monday's closing share prices.

... meant that they will process transactions on Friday, but that we won't see it until Monday.

Of course that wording on the share price page is the exact same info we see during regular holidays and is clearly a mistake.

Has anyone else looked into this?

 

[Intrepid_Timer]

I posted this on my commentary this morning. I was told basically the same thing. Was her name Lori?

 

[Intrepid_Timer]

Seems to me, if nothing else, they would be able to update Friday's transactions and prices on Monday morning. Last I remember, government workers still worked on Monday mornings too.................

 

[Frixxxx]

Just got off the phone with a supervisor. The transactions will be processed like all other days.

Man are they rude.....

If you put in your transaction request after 12:00 Noon (eastern) Thursday 30 December, it won't process til evening Monday the 3rd, 2011.

The only thing that will be updated is the share prices.

 

[tsptalk]

Just got off the phone with a supervisor. The transactions will be processed like all other days.

Man are they rude.....

If you put in your transaction request after 12:00 Noon (eastern) Thursday 30 December, it won't process til evening Monday the 3rd, 2011.

The only thing that will be updated is the share prices.

That doesn't make sense... does it? The last two sentences make it sound as if they won't process IFT's on Friday.

I'm still confused.

 

[tsptalk]

I posted this on my commentary this morning. I was told basically the same thing. Was her name Lori?

I saw what you wrote, and since it conflicted with the site's info, I also called. Unfortunately, what "Lori" told you is not what the supervisor told Frixxxx. And the lady I talked to had no idea.

So, where are we? It's kind of an important decision because the 1st trading day in January has a tendency to be a big mover - up or down.

 

[Birchtree]

I believe most of the employees are contracted and working out of New Orleans.

 

[nnuut]

I can imagine they are swamped with phone calls, they will probably clarify it by the end of the day. I hope!

 

[tsptalk]

I sent a message to the website folks using their contact form. Let's see if they are paying attention.

 

[Intrepid_Timer]

I sent a message to the website folks using their contact form. Let's see if they are paying attention.

Bet you get a reply Monday....................

 

[Buffalo_Nickle]

I believe most of the employees are contracted and working out of New Orleans.

Yes, and I would wager former board member "Wimpy" is in charge down there!

 

[Birchtree]

You must have been doing a geothermal dig when you discovered that one. Another progressive best left buried.

 

[nasa1974]

Tom, In post 2 below I saw both remarks early this morning also. I just logged into my account and the second remark "Friday, December 31, 2010: The Thrift Savings Plan will be closed on Friday, December 31st in observance of New Year's Day. Transactions that would have been processed Friday night (December 31st) will be processed Monday night (January 3rd), at Monday's closing share prices." is not there. I guess we will have to wait and see what happens. Typical government agency at it's best.

 

[Intrepid_Timer]

Looks like they got rid of the one that said Friday's transactions will be processed Monday after the close. The power of TSPtalk!!

 

[tsptalk]

Now we know, cool!

The Thrift Savings Plan will be closed on Friday, December 31 in observance of New Year's Day. The stock and bond markets will be open, and the TSP will process transactions. However, since December 31 is a Federal Holiday, the TSP call centers will be closed.