nnuut
Moderator | TSP Talk Royalty
- Reaction score
- 210
Welcome to the Message Board JAMIEZ71. We know how you feel, If you haven't go to the link below and sign the petition we are still fighting!!!
Norman
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TSP Warning Letters
- Thread starter whitemingo
- Start date
Norman
Thanks for the info, James, and great idea! I just sent a FAX to FRTIB (it's free over the internet....just go to faxzero.net - the FRTIB fax number is 866-817-5023) and requested at least 250 copies of form TSP-50. I asked them to let me know if they could not do that (if I get a reply, I'll post it here). I also went to the new "feedback" link at the tsp website and told them why the "frequent trader" letter that Mr. Long sent me this week was not legal, because they have not yet complied with the legal procedures necessary to implement such a change. As you say, this is going to get interesting!
marco59
Market Tracker
- Reaction score
- 1
I finally got mine today. Until recently, I was making about 10 IFTs a month. If we are forced to mail them, I'll make even more....just not as risky.
James48843
TSP Talk Royalty
- Reaction score
- 737
News flash-
I called the Thrift Line today, and asked for them to send me 250 blank TSP-50 forms.
The girl who answered said "You don't need that, you can go on-line, or call the thrift line.".
I said I was talking about for when the Thrift Board takes away the right to use the internet and/or the thrift line. She suddenly got quiet. I asked her again to send me 250 blank forms. She said "You'll have to get them from your personnel office".
I told her I did not have a "personnel office". That I am a retired Army Officer (true), and that I wanted her to send me 250 blank TSP-50 forms.
She then revealed that they did not have ANY TSP-50 forms at the Thrift Line.
So I called the Thrift Board office in D.C.
And I asked the gentleman there to send me 250 blank TSP-50 forms. So that I could be properly prepared. He took my name and number, and said someone would get back to me.
At around 4 o'clock I got a phone call back from them. They said "You aren't on the list, so you don't need any forms". I told them I may not yet be on the list, but I am a Union rep for 11,000 federal employees, and that I wanted to have a stock in hand, since it appears that the Thrift Line says THEY HAVE NO BLANK TSP-50 forms available.
That didn't go over well. The gentleman then said he was just a low level peon (his words, not mine) that was told to call me back and tell me that my name was not on the list, so I shouldn't worry about it. And that 99.9% of people will not be affected. I told him I planned to help the 0.1% of people who ARE affected sue the pants off every person who is involved in this effort- so they better either send me the 250 blank copies of TSP-50 form, or I would be doing a press release in the morning, stating that tjhe Thrift Board is unprepared to execute the threat against shareholders. He hung up on me.
There you have it.
There are NO TSP-50 forms out there. TSP doesn't have any mail in forms.
This could get REAL interesting, real soon.
I called the Thrift Line today, and asked for them to send me 250 blank TSP-50 forms.
The girl who answered said "You don't need that, you can go on-line, or call the thrift line.".
I said I was talking about for when the Thrift Board takes away the right to use the internet and/or the thrift line. She suddenly got quiet. I asked her again to send me 250 blank forms. She said "You'll have to get them from your personnel office".
I told her I did not have a "personnel office". That I am a retired Army Officer (true), and that I wanted her to send me 250 blank TSP-50 forms.
She then revealed that they did not have ANY TSP-50 forms at the Thrift Line.
So I called the Thrift Board office in D.C.
And I asked the gentleman there to send me 250 blank TSP-50 forms. So that I could be properly prepared. He took my name and number, and said someone would get back to me.
At around 4 o'clock I got a phone call back from them. They said "You aren't on the list, so you don't need any forms". I told them I may not yet be on the list, but I am a Union rep for 11,000 federal employees, and that I wanted to have a stock in hand, since it appears that the Thrift Line says THEY HAVE NO BLANK TSP-50 forms available.
That didn't go over well. The gentleman then said he was just a low level peon (his words, not mine) that was told to call me back and tell me that my name was not on the list, so I shouldn't worry about it. And that 99.9% of people will not be affected. I told him I planned to help the 0.1% of people who ARE affected sue the pants off every person who is involved in this effort- so they better either send me the 250 blank copies of TSP-50 form, or I would be doing a press release in the morning, stating that tjhe Thrift Board is unprepared to execute the threat against shareholders. He hung up on me.
There you have it.
There are NO TSP-50 forms out there. TSP doesn't have any mail in forms.
This could get REAL interesting, real soon.
James48843
TSP Talk Royalty
- Reaction score
- 737
Yes, it could get quite interesting to "teabag" the TSP Board and each ETAC member.
Let me work on that idea for a bit, and see how we're going to do this. It makes great press if we can get a lot of people on-board with the tea-bag thing.
Let's make a real statement. Let me have a day or two to think about the best way to tea-bag them. Let's send them a message, and get the press to report on it......
P.S.- Are we having fun yet?
Let me work on that idea for a bit, and see how we're going to do this. It makes great press if we can get a lot of people on-board with the tea-bag thing.
Let's make a real statement. Let me have a day or two to think about the best way to tea-bag them. Let's send them a message, and get the press to report on it......
P.S.- Are we having fun yet?
Thanks for the upate, James. I think a press release is definitely in order! In my case, I most certainly AM on their frequent trader list, as I got a letter this week, so we'll see how they reply to my FAX, requesting 250 copies of TSP-50. I asked for a reply if they could not send the forms for some reason.
If they wannna make threats, they better be ready to play the game!
Actually, I think I read somewhere that there are 250 trading days a year. 365 - 2*52 = 261 .. and then there's a few banking holidays where the market is closed and then there are a few federal holidays on top of that where the market is open but the TSP trading window is closed.
Now THAT is an interesting idea ...
For that to work though, it would be better to bypass the post office all together and just dump the letters into the TSP's inbox.
An evil thought just occurred to me. Why not send them a blank form EVERY day? Or even multiple blank forms? (in separate envelopes, of course) They can't refuse to take them .. nor can they not take the time to open them, etc.
frokker
Market Tracker
- Reaction score
- 3
Steadygain
TSP Elite
- Reaction score
- 45
OK, it's the end of the week and may be this is all meant in fun.
LET'S PRETEND THE ISSUE IS PORNOGRAPHY ON THIS SITE
I have no doubt that 99.9% of the MB would never even consider it. But how are we going to stand up for the 0.1% who want to challenge that. Should we send Tom and all the Moderators a year's worth of petitions over and over until they give in??? Will that in anyway change the ones in charge - or just annoy them?
WHAT ABOUT THE ONES WHO DELIBERATELY ANTAGONIGE OTHERS, WHO GO OUT OF THEIR WAY TO ANNOY THEM AND INSULT THEM
Again the 99.9% are innocent - but how do we stand up for that rare one who tells us we are a bunch of idiots, who cheers our losses, who tells us we are the worst example of TSP management...are we all to respond as above???
May be it is time that everyone just grow up and accept the fact that rules and regulations are meant for the overall good of the whole. It is a rare person who goes out of their way to ruin and spoil the overall environment that makes this site so wonderful; and when that individual repeats these inappropriate behaviors it is only right that the governing body deals with it. That way this site remains a wonderful place for everyone else. Why do we (the majority of those voicing themselves) have such a hard time letting this go smoothly and working with it?? Why should we waste our efforts trying to attack the ones in charge? How will flooding the establishment with petetions - endless garbage emails - and all this other crap - do anything to help the overall whole? Why fight a losing battle?? when there is no way you can win??? Why can't we just let it go, accept this, and recognize these letters are really true and now we can either act like babies or act like adults. When you act like a baby it will only work against you - you will show everyone who and what you really are. So I would say "Let's act like adults".
Ok, now this IS interesting
I just got off of the thrift line ... they said that they could not send me 250 forms, that I'd have to snail mail or fax a request for those. BUT ... I asked if they could send me a smaller number ... say, 10.
The girl I spoke said that she could do that ... so 10 forms are coming my way.
Anyone know if these forms are reproducible?
I just got off of the thrift line ... they said that they could not send me 250 forms, that I'd have to snail mail or fax a request for those. BUT ... I asked if they could send me a smaller number ... say, 10.
The girl I spoke said that she could do that ... so 10 forms are coming my way.
Anyone know if these forms are reproducible?
save some money don't send it with a return receipt just a certified letter you can go on line at www.usps.com look for tracking and punch in the numbers and you will get what time you sent it and what time it was receive at the station and what time it was delivered, save yourself two dollars and change for the next letter.
why spend money on the copies i won't,i don't have i copying machine and if i do have to spent money save the receipt and charge the tsp board.
Steadygain - you have a right to your opinion, but please understand that many of us do not consider our protests against what FRTIB is trying to do as wasted efforts, nor do we consider it to be a losing battle. James and others have gone to great effort to demonstrate that they have NOT shown that imposing these new IFT restrictions are warranted, nor will they do anything for the "overall good of the whole". We are not the ones who sent threatening letters to TSP members who are just trying to manage their retirement accounts as they see fit..........and in full accordance with the rules and regulations. Mr. Long and others have chosen to take this heavy-handed approach to beating us into submission, and when you do something like that, you better be prepared to take some heat in response. I, for one, sent in lengthy comments in response to the FRTIB Interim Rule of 12/27/07, and FRTIB has not even had the courtesy to reply to those comments........all I got was a threatening letter a few weeks after that, telling me to stop doing what I was doing (following the rules) or they will force me to make IFT's via snail mail. GIVE ME A BREAK!!! Don't expect me to just lay down and accept these changes, when they adversely affect my ability to manage my retirement
funds, and when FRTIB has NOT demonstrated how my doing so has adversely affected anyone else. I, for one, intend to keep fighting on. If you decide to accept the proposed changes, that is your prerogative.
Rod
Market Veteran
- Reaction score
- 288
Our country was founded upon folks who did the exact opposite of what you are advocating.
I, for one, will continue to support and encourage those who are willing to stand in the gap, aiming their slingshots squarely between the eyes of "Goliath".
Steadygain
TSP Elite
- Reaction score
- 45
The battle is NOT over. The battle has only just begun. If this were a baseball game, the opposing side has batted in the first inning, and we're now up to bat.
There will be LOTS of back and forth in this game to come.
Look at it this way-
First of all, there IS NO PROBLEM.
1. As pointed out in the actual statistics, the funds are all beating the indexes they are supposed to represent. That is the job of the TSP Board- to try and meet those indexes. Period. If they are able to bring returns that meet or beat the indexes, they have done there primary job.
2. And then there is the cost arguement. TSP is already less than one-tenth the administrative cost of any comparable mutual fund. The is NOT a cost problem. Period. So TSP has already done there job.
3. The "proposed solution" is not a solution at all. Limiting intefund trasnfers does NOT increase the fund's return. As pointed out before, part of the reason the funds BEAT the indexes already is that Barclays is now using "Covered calls" and "fair value adjustments" that operate properly off the fact that people are moving funds. If you impose these draconian restrictions, you HARM the rate of return, not help it. Anyone who has done the actual math, and reviewed the actual data, would discover this fact. It is up to us to shine a BRIGHT LIGHT on truth for all the world to see.
4. It doesn't matter if it is ONE PERSON, or 3,000 who are adversely affected. The fact is that the Thrift Board is able to ram through restrictions without being questioned is what is at stake here. So today "someone" * (Tracey Ray) discovered something that has been going on since the day they invested HUNDREDS OF MILLIONS OF DOLLARS OF OUR MONEY to allow- the daily movement of funds. This is nothing new. But SHE suddenly discovers it, and decides "it must be a problem", because it doesn't fit with HER concept of how people should handle their own money.
She is entitled to HER concept of how people should handle their own money. However, she is NOT entitled to impose that concept on others. Heck, half the people in the TSP are uneducated or fearful to the point that they never stray out of the G fund. THEY are the ones that Tracey Ray should focus on. Educating them, not handcuffing us.
And that is the whole point. There IS NO "One size fits all" correct way to handle money. Some people need risk, others need safety. Each individual needs to know his/her own situation, and decide for themselves what THEY need to try and accomplish.
Sure, there will be both winners and losers when people are allowed the freedom to try. But THAT is the Thrift Board's job- to allow for the maximum freedom of people to invest for their own retirement. As long as the funds are meeting the indexes, fine. As long as adminstrative costs are "low", (No one can argue that costs one-tenth the costs of average mutual funds are not low), they are doing their job. At that point, the Thrift Board needs to step back and get out of the way. Period.
The vast majority of the "0.1%" KNOW ALREADY that this action is wrong. The vast majority of those 0.1% already know that the Thrift Board is incorrect in identifying the "problem", and the vast majority of those already know that the "solution" being proposed is NOT going to have a positive affect on the returns or the costs. It is EXACTLY because the vast majority of those 0.1% UNDERSTAND how the system is working, how the costs are allocated, how Barclays is working the system, and how THEY = the 0.1% = are able to influence the outcome ONLY IF THEY ALL STAND TOGETHER, and shine the light of truth on this.
This IS the American way.
Truth. Justice. American Way.
Soapbox mode off......
Last edited:
Wildboar53
Investor
- Reaction score
- 1
It isnt over until the rules have been changed. This is all an active (at least from our end) discussion and dissent with the proposed rules.
On Monday, I will be going over to my personel office to request several of the TSP-50 forms to do a trial run of how long it will take them to do a snail mail IFT. I will also stress on him that he will need a goodly supply of forms for the coming debacle the TSP board is creating.
On Monday, I will be going over to my personel office to request several of the TSP-50 forms to do a trial run of how long it will take them to do a snail mail IFT. I will also stress on him that he will need a goodly supply of forms for the coming debacle the TSP board is creating.
James48843
TSP Talk Royalty
- Reaction score
- 737
It is a far, far better thing to go down fighting, with courage, and principle, and be slain in battlem fighting for what is right,
than to capitulate to wrong, and spend the rest of your life eating soggy cheerios in your old age.
What will YOU do to fight back?
than to capitulate to wrong, and spend the rest of your life eating soggy cheerios in your old age.
What will YOU do to fight back?
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