TSP spends $2 Million mailing letters about saving cost

[Braveheart]

The Executive Director has sent a letter to every one of the 3.9
million participants explaining the situation and reminding all
participants that the TSP was designed by Congress to be a passive,
long-term vehicle designed to replicate the selected indexes.

Then sent 3,500+ letters of warning to those who were on the hit list.

Then sent 549+ Certified Letters of restriction 3/31/08

Now we hear about cost and waste but my quess is more than $1 - 2 Million was spent on postage. So lets cut the B.S. Mr. Greg Long that should be added to the investigation of more waste and abuse of power.

 

[ChemEng]

Since the TSP is a government agency, why would it have to pay for postage at all?

 

[Show-me]

PO is quasi independent and it is how we keep track of cost. We receive no tax monies only monies for services our customers buy. Only folks that get a free ride are not for profits and politicians. Politicians get it for free because they write the laws.

 

[Idaho Dave]

Our agency spends about $3 for a single 2 page certified letter.

 

[EW_ret]

The certified letter I received from the FRTIB cost $5.50 to send based on the stamped amount. Sending these certified letters is nothing more than Mr Gregory Long flexing his power, and is poor management on his part. It does not make any business sense to waste money on 547 members when the proposed automated IFT limitations will be implemented within 30, or 60 days. Or will it? This is mismanagement and abuse of power, pure and simple. He has an axe to grind and wants to make a name as great protector of TSP.

 

[Braveheart]

here are my figures the letters to the 3.9 Million + the 3500 letters of warning + 549 certified letters =

$1,599,000
+ 1,435
+ 3019.50
$1,603,454.50

Mr. Greg Long should be removed for wasting our money!!! The letters were not sent bulk rate either. So save that for you weekly talk with the Washington Post :suspicious: