TSP Warning Letters

[weatherweenie]

People,
All I read on this thread are complaints! Quote:
"(TSP) This is a retirement fund, not a day-trading account," Brown (Richard Brown, vice chairman of the thrift advisory council) said. "The goal here is what is for the greater good of all, not for the greater good of a few."

Keep it simple, if you want to play foolishly with your retirement money then start an account outside TSP and day trade away... I resent the actions of a few costing me gains. I see few making any better gains by making numerous IFTs. By the way, if you folks really knew how to invest, you'd be working up on Wall Street and not on the Federal dole.

The TSP board is the one that gave participants the ability to make once daily IFT's. By the way that's not day trading.

So, if the TSP board is the one that provided participants that ability, what exactly is the problem?

 

[camper65]

People,
All I read on this thread are complaints! Quote:
"(TSP) This is a retirement fund, not a day-trading account," Brown (Richard Brown, vice chairman of the thrift advisory council) said. "The goal here is what is for the greater good of all, not for the greater good of a few."

Keep it simple, if you want to play foolishly with your retirement money then start an account outside TSP and day trade away... I resent the actions of a few costing me gains. I see few making any better gains by making numerous IFTs. By the way, if you folks really knew how to invest, you'd be working up on Wall Street and not on the Federal dole.

Next time an air craft smashes into a building, or trains blow up, or the jobs report is going to be in the toilet, (and you know it), ---and--- you have already used your 2 IFT's, you'll be glad to have the option of a third IFT I think!

 

[BlueMax]

People,
All I read on this thread are complaints! Quote:
"(TSP) This is a retirement fund, not a day-trading account," Brown (Richard Brown, vice chairman of the thrift advisory council) said. "The goal here is what is for the greater good of all, not for the greater good of a few."

Keep it simple, if you want to play foolishly with your retirement money then start an account outside TSP and day trade away... I resent the actions of a few costing me gains. I see few making any better gains by making numerous IFTs. By the way, if you folks really knew how to invest, you'd be working up on Wall Street and not on the Federal dole.

Alamo,

I think you bought into TSP propaganda that is just not true. Those of us on this site have common concerns and sometimes venting helps us feel better. You are certainly welcome to visit or not. We DO value new opinions.

 

[350zCommTech]

People,
All I read on this thread are complaints! Quote:
"(TSP) This is a retirement fund, not a day-trading account," Brown (Richard Brown, vice chairman of the thrift advisory council) said. "The goal here is what is for the greater good of all, not for the greater good of a few."

Keep it simple, if you want to play foolishly with your retirement money then start an account outside TSP and day trade away... I resent the actions of a few costing me gains. I see few making any better gains by making numerous IFTs. By the way, if you folks really knew how to invest, you'd be working up on Wall Street and not on the Federal dole.

The cost of trading has gone up to about $80 per year, per person. That's like losing 1 penny a share in the F fund. This is a problem for you? Are you kidding me? In January, this was one day where the I fund lost 4%. For a 100k account, that would have been a $4000 lost, in one day.

 

[qibovin]

People,
All I read on this thread are complaints! Quote:
"(TSP) This is a retirement fund, not a day-trading account," Brown (Richard Brown, vice chairman of the thrift advisory council) said. "The goal here is what is for the greater good of all, not for the greater good of a few."

Keep it simple, if you want to play foolishly with your retirement money then start an account outside TSP and day trade away... I resent the actions of a few costing me gains. I see few making any better gains by making numerous IFTs. By the way, if you folks really knew how to invest, you'd be working up on Wall Street and not on the Federal dole.

Desparado, is that you? Have you reincarnated?

 

[ThirdWorldChild]

Although this is my first posting, I have been visiting TSPTalk.com for 6 months. As a result of the TSPTalk posts and wealth of information I was able to make intelligent decisions regarding my account and effective use of IFTs. I’m deeply thankful for the posts, insights, discussions, intra day quotes and external links. The site is truly lives up to its mission.

I must respond to the recent post from those who feel the activities of TSPtalk participates are detrimental to all TSP funds holders. It is…very simply..not true. Rather those who are concerned with proposed restrictions in our ability to effective manage OUR accounts through intelligent timing of IFTs are beneficial to ALL TSP account holders. These folks have certainly contributed to my goals of retiring early with no dependence on social welfare or extended government service.

We live, as do all generations, in a period of high volatility. It is through a collaborative mission driven site like TSPTalk that one can financially and socially prosper during these times. We have all choices…I’ve chosen to learn how to manage my TSP account and this site has been an effective teacher….

My account +10.83%
TSP 2020 -3.06%

 

[weatherweenie]

Although this is my first posting, I have been visiting TSPTalk.com for 6 months. As a result of the TSPTalk posts and wealth of information I was able to make intelligent decisions regarding my account and effective use of IFTs. I’m deeply thankful for the posts, insights, discussions, intra day quotes and external links. The site is truly lives up to its mission.

I must respond to the recent post from those who feel the activities of TSPtalk participates are detrimental to all TSP funds holders. It is…very simply..not true. Rather those who are concerned with proposed restrictions in our ability to effective manage OUR accounts through intelligent timing of IFTs are beneficial to ALL TSP account holders. These folks have certainly contributed to my goals of retiring early with no dependence on social welfare or extended government service.

We live, as do all generations, in a period of high volatility. It is through a collaborative mission driven site like TSPTalk that one can financially and socially prosper during these times. We have all choices…I’ve chosen to learn how to manage my TSP account and this site has been an effective teacher….

My account +10.83%
TSP 2020 -3.06%

Welcome aboard!

I never have understood all the negativity over frequent IFT's. It's like they think we're doing something illegal.

 

[FundSurfer]

I resent the actions of a few costing me gains.

Show us the losses. Looks like the frequent traders made you money last year.

 

[tsptalk]

Welcome ThirdWorldChild and Alamo! Thanks for sharing your opinions.

 

[FundSurfer]

In my opinion, the hardest part about this fight is language. Getting people to understand what is going on. I've explained it to a couple of my officemates and their eyes glaze over and they just stick to a pat answer of they don't think that frequent trading (IFT, rebalancing, fund swapping) should be allowed because it cost them money. They (the majority of federal employees) don't really want to think about it. It is difficult to understand the details of both sides of the arguement. Unfortunitely, I get the same impression from the ETAC. I don't think they understand it.

I'll take your suggestion to heart and start calling it frequent transfers.

 

[ou81200]

Got this from comcast internet---

By Associated Press
2/20/08 10:40 AM

WASHINGTON- The Supreme Court says individual participants in the most common type of retirement plan can sue under a pension protection law to recover their losses.

In a unanimous

 

[ou81200]

Got this from comcast internet---

By Associated Press
2/20/08 10:40 AM

WASHINGTON- The Supreme Court says individual participants in the most common type of retirement plan can sue under a pension protection law to recover their losses.

In a unanimous ruling, the justices are allowing participants in 401(k) retirement plans to sue. The decision has implications for 50 million workers with $2.7 trillion invested in such plans.

James LaRue of Southlake , Texas, says the value of his stock market holdings has plunged $ 150,000 when administrators at his 401(k) retirement plan failed to follow his instructions to switch to safer investments.

Perhaps the folks at TSP should know about this before trying to impliment their outragous plan.

Any input???

 

[ou81200]

anidoc---

I firmly belive that TSP will eventually have to explain their expendatures. Right now, they are blaming the 3000. But common sense dictates that it's the L-funds that's the culprit. I don't know what oversight commitee governs TSP ( there are alot more people more knowledgable on this board than I about this), but they will have some explaining to do. I am truly grateful for the overwhelming response of everyone in this board on such matters. I think they underestimated the response and intellegence from this board and now they are being careful as to their next move. That's why everybody who is still following their style of transfering funds still have access to manipulate their account via internet . Also reasons like what I posted earlier have got to play a role.

IMO---It would be in their best interest to come up with a compromise.

 

[DrFaustus]

Hey, I have a question that the TSP Board should find it difficult to answer. If the TSP is a savings plan ... why are accounts allowed to lose money? That's the strangest savings plan I ever heard of ...

 

[tsptalk]

Hey, I have a question that the TSP Board should find it difficult to answer. If the TSP is a savings plan ... why are accounts allowed to lose money? That's the strangest savings plan I ever heard of ...

Good point. Buying and holding is just one way to save. Why should they impose on anyone, a particular way to save / invest? They don't educate us (and I don't think they should) so how can they say, "do it this way?" Who says that's the right way?

 

[ou81200]

Bottom Line---

They're backstrokin- plain & simple. If 3000 TSP members have that big of an impact on the funds as they claim. Imagine those same members suing TSP for losses because they were unable to transfer to the safety of the G - fund.

I know someone has probably allready mentioned this, but I want to make sure it's still fresh on their minds.

 

[alevin]

Bottom Line---

They're backstrokin- plain & simple. If 3000 TSP members have that big of an impact on the funds as they claim. Imagine those same members suing TSP for losses because they were unable to transfer to the safety of the G - fund.

I may be out to lunch here, but I think that's why they've been saying we'd still be allowed "unlimited" transfers back to G after the first 2 moves.:notrust:

 

[alevin]

Bottom Line---

They're backstrokin- plain & simple. If 3000 TSP members have that big of an impact on the funds as they claim. Imagine those same members suing TSP for losses because they were unable to transfer to the safety of the G - fund.

I may be out to lunch here, but I think that's why they've been saying we'd still be allowed "unlimited" transfers back to G after the first 2 moves.:notrust:

:blink:Well, looks like I'm going to have THOSE words for lunch! My logic is too logical for them, AND my comprehension of English grammar and definitions is apparently better than theirs too! "unlimited" MEANS unlimited!, NOT "one" move total back to F/G as a 3d-last move for the month.

NOW I'd say there are grounds for class action regarding abdication of fiduciary responsibility-for those that have gotten nailed for 2 moves into/among FCSI, followed by 2 subsequent cumulative (incremental) moves back to F/G. My overly cautious and skeptical nature didn't want to believe they as professionals were THAT bad at explaining where the line gets drawn on #transfers back to F/G, but apparently they are. What is so bad about incremental transfers back to G in a month until you're all the way back out???! Good grief. If a person only moves 20% back into G on the 2d move, then they are stuck the rest of the month in FCSI with 80% of their $. How is that an "unlimited" ability to transfer back to G?????? THAT's going into my personal commentary to the FR. As is the need for truly unlimited ability to move incrementally back to G in a month, until all the way back out if that is what is needed for CP. A lot can happen in a day, much less 3 weeks.

You know, Demonstrated skill in competency of written communications should be a selection criteria for the Board members-it's typically a selection criterion for virtually any professional position in my outfit. I wonder if it was for any of them. Couldn't prove it by me at this point. Disgusted rant done. Sign me-Disgusted with Incompetent FRTIB "communicators"

 

[Megansh]

Looked this decision up and went to the Employees Retirement Security Investment Act and any govermental agency with a retirement plan is not covered under this act....so I don't know if the Supreme court ruling affects us .. Mike in NH

 

[BIGBULLY]

:blink:Well, looks like I'm going to have THOSE words for lunch! My logic is too logical for them, AND my comprehension of English grammar and definitions is apparently better than theirs too! "unlimited" MEANS unlimited!, NOT "one" move total back to F/G as a 3d-last move for the month.

NOW I'd say there are grounds for class action regarding abdication of fiduciary responsibility-for those that have gotten nailed for 2 moves into/among FCSI, followed by 2 subsequent cumulative (incremental) moves back to F/G. My overly cautious and skeptical nature didn't want to believe they as professionals were THAT bad at explaining where the line gets drawn on #transfers back to F/G, but apparently they are. What is so bad about incremental transfers back to G in a month until you're all the way back out???! Good grief. If a person only moves 20% back into G on the 2d move, then they are stuck the rest of the month in FCSI with 80% of their $. How is that an "unlimited" ability to transfer back to G?????? THAT's going into my personal commentary to the FR. As is the need for truly unlimited ability to move incrementally back to G in a month, until all the way back out if that is what is needed for CP. A lot can happen in a day, much less 3 weeks.

You know, Demonstrated skill in competency of written communications should be a selection criteria for the Board members-it's typically a selection criterion for virtually any professional position in my outfit. I wonder if it was for any of them. Couldn't prove it by me at this point. Disgusted rant done. Sign me-Disgusted with Incompetent FRTIB "communicators"

Hey there Alevin,

When I read that about "unlimited transfers" I was bloody scratch'in my head. I thought "UNLIMITED?", WHAT!!???? Is this some sort of joke!!!?? Sounds like a very bad sales pitch!! What a consolation they are making - so generous they are??? My opinion is that this is simply Socialistic (with a capital "S"). Given the opportunity to respond in writing is just a big smoke screen. The decision has been made and will be forced upon us. Unbelievable how Socialism has now shown it ugly head even here in our nation's free enterprise capitalistic market. They don't even entertain the idea of offering frequent "transfers" within a fee structure like typical brokerage firms. I, like many others, will take what contributions beyond the matching and make money elsewhere. - BIGBULLY