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weatherweenie's account talk
- Thread starter weatherweenie
- Start date
weatherweenie
Well-known member
I received the following email yesterday. It will be interesting to see how/if/when we receive our full matching benefits:
Please see below regarding the effects of non-pay status on TSP contributions and loans:
Thrift Savings Plan (TSP):
While you are in a non-pay status you will not be able to contribute to the TSP because your employee contributions must be made through payroll deductions. FERS employees will not receive agency matching contributions (which are based on your employee contributions). FERS employees will not receive Agency Automatic (1%) Contributions, which are calculated on basic pay earned each pay period. All employees can continue to manage their TSP account with interfund transfers. You can also make contribution allocation changes that will take effect when you are once again in pay status, or when you make future loan payments to your account. You can transfer or roll over funds into your TSP account from traditional IRAs, SIMPLE IRAs, and eligible employer plans. You can request financial hardship or age-based service withdrawals if you are eligible. You are not eligible to request a new TSP loan. If you already have a TSP loan when you are placed in a non-pay status, a period without pay may result in a missed payment because TSP loan payments are made through payroll deductions (unless you make payments directly from your own funds). If you go into an approved non-pay status, the Internal Revenue Code (IRC) allows you to suspend TSP loan payment for up to one year of the non-pay period. A suspension of loan payments is not automatic. To suspend your payments, you (or your agency or service) must provide the TSP with proper documentation of your non-pay status. For more information, refer to the TSP Fact Sheet- Effect of Non-pay Status on TSP Participation. The fact sheet can be found at https:/ /www.tsp.gov/PD F/formspubs/oc95-4. pdf
Please see below regarding the effects of non-pay status on TSP contributions and loans:
Thrift Savings Plan (TSP):
While you are in a non-pay status you will not be able to contribute to the TSP because your employee contributions must be made through payroll deductions. FERS employees will not receive agency matching contributions (which are based on your employee contributions). FERS employees will not receive Agency Automatic (1%) Contributions, which are calculated on basic pay earned each pay period. All employees can continue to manage their TSP account with interfund transfers. You can also make contribution allocation changes that will take effect when you are once again in pay status, or when you make future loan payments to your account. You can transfer or roll over funds into your TSP account from traditional IRAs, SIMPLE IRAs, and eligible employer plans. You can request financial hardship or age-based service withdrawals if you are eligible. You are not eligible to request a new TSP loan. If you already have a TSP loan when you are placed in a non-pay status, a period without pay may result in a missed payment because TSP loan payments are made through payroll deductions (unless you make payments directly from your own funds). If you go into an approved non-pay status, the Internal Revenue Code (IRC) allows you to suspend TSP loan payment for up to one year of the non-pay period. A suspension of loan payments is not automatic. To suspend your payments, you (or your agency or service) must provide the TSP with proper documentation of your non-pay status. For more information, refer to the TSP Fact Sheet- Effect of Non-pay Status on TSP Participation. The fact sheet can be found at https:/ /www.tsp.gov/PD F/formspubs/oc95-4. pdf
Thanks for the info. I got on the TSP site, and it did have a page about the shutdown as well. Hope this helps too. I guess one question is the loan issue, and how to get back up to date so they don't consider it a withdrawal.
https://www.tsp.gov/whatsnew/Content/index.html#shutdown
Government Shutdown — (December 22, 2018) The TSP will continue its normal daily operations during the federal government shutdown. Read the TSP fact sheet Effect of Nonpay Status on Your TSP Account
to get answers to questions about the shutdown’s impact on TSP contributions, loans, and withdrawals. The fact sheet also emphasizes that your agency should not send Form TSP-41, Notification to TSP of Nonpay Status to the TSP during a federal government shutdown. A shutdown is a rare occurrence and is typically of short duration. Form TSP-41 is intended for participants who are being placed on extended leave without pay, e.g., for illness, military furlough, maternity leave.
https://www.tsp.gov/whatsnew/Content/index.html#shutdown
Government Shutdown — (December 22, 2018) The TSP will continue its normal daily operations during the federal government shutdown. Read the TSP fact sheet Effect of Nonpay Status on Your TSP Account
to get answers to questions about the shutdown’s impact on TSP contributions, loans, and withdrawals. The fact sheet also emphasizes that your agency should not send Form TSP-41, Notification to TSP of Nonpay Status to the TSP during a federal government shutdown. A shutdown is a rare occurrence and is typically of short duration. Form TSP-41 is intended for participants who are being placed on extended leave without pay, e.g., for illness, military furlough, maternity leave.
weatherweenie
Well-known member
Trying to decide if it is worth the risk, buying into the market at these levels. It's just legalized gambling at the world's largest casino. Do you feel lucky, punk?
weatherweenie
Well-known member
Thinking that there is a good enough chance that we will hear something along the lines of, 'we are going to keep talking'.
Going with 20 C, 20 S, 60 G, from 100 G.
Going with 20 C, 20 S, 60 G, from 100 G.
weatherweenie
Well-known member
It's days like today that make me wonder, why do I even bother? Fortunately, I'm 'only' have 40% in the market. I'm not sure that it's worth putting the rest in, until things settle down. 
weatherweenie
Well-known member
Exiting today, hopefully the gains hold.
100G
100G
weatherweenie
Well-known member
weatherweenie
Well-known member
weatherweenie
Well-known member
weatherweenie
Well-known member
I'm aware that it's overstated. However, for those who don't want government meddling in their lives, it's interesting to see the attitude change when they need/want something from the government.
weatherweenie
Well-known member
Obviously. However, it is interesting to see the people who want to limit government involvement in their lives change their tune when they all of a sudden need help from the government.
Whipsaw
Well-known member
Didn't ask for a check, though it is being spent to support the local economy, which has been shutdown (many think unnecessarily, consider H1N1...) by the government. This shutdown, in violation of the Bill of Rights, is destroying peoples livelihoods - that is the outcome of socialism.
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