Viva_La_Migra
Well-known member
I'm sorry you work with such sheeple!:laugh:
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What YOU can do to fight back - IFT limit
- Thread starter James48843
- Start date
weatherweenie
Well-known member
Interesting replies that I have received from a regionwide email that I sent out regarding the proposed TSP restrictions. I received ONE positive reply. The rest were negative, along the lines of 'those darn daytraders!'
I hope it was a joke, but one reply was, 'what is this TSP that you're talking about?'
I hope it was a joke, but one reply was, 'what is this TSP that you're talking about?'
TRAFFIC_DOG
Member
Sadly, I'm not feeling good about staving off these changes.
I understand the sheep with small balances not giving a flip or even harbouring a perverse jealousy towards those who might be benefiting from skills and opportunity which they may not have.
Having over 600k now, my system is to lighten up, using several IFT's when my indicators show overbought. I also work back in over several IFT's.
Many days I am equally happy to see either red or green at the end of the day.
What could be a better system for restful nights?
I am limiting my exposure to a 2000-2003 scenario in a huge way, while also out performing buy and hold during up years.
I am happy... and a am securing my retirement and providing for my family's future in a responsible way.......
Shame on the TSP board to take this away!
Shame on the small minded to delight in my future loss...............
I understand the sheep with small balances not giving a flip or even harbouring a perverse jealousy towards those who might be benefiting from skills and opportunity which they may not have.
Having over 600k now, my system is to lighten up, using several IFT's when my indicators show overbought. I also work back in over several IFT's.
Many days I am equally happy to see either red or green at the end of the day.
What could be a better system for restful nights?
I am limiting my exposure to a 2000-2003 scenario in a huge way, while also out performing buy and hold during up years.
I am happy... and a am securing my retirement and providing for my family's future in a responsible way.......
Shame on the TSP board to take this away!
Shame on the small minded to delight in my future loss...............
jellobrains
Member
Well after they shove the trade limits down our throats I'll be very anxious to see at the end of next year how all this MONEY they'll be saving will impact my account. Something like $2 a year.............:notrust:
James48843
Well-known member
Have you signed the petition yet?
Have you gotten your co-workers to sign yet?
Visit http://tspshareholder.org and add your name to the list.
Thanks
Have you gotten your co-workers to sign yet?
Visit http://tspshareholder.org and add your name to the list.
Thanks
James48843
Well-known member
Visit "the sandbox" for today's find.
I dug all day through pages and pages of Thrift Board meeting notes, and found a heck of a gold nugget.
See this thread, post #32 and below:
http://www.tsptalk.com/mb/showthread.php?p=137906
I dug all day through pages and pages of Thrift Board meeting notes, and found a heck of a gold nugget.
See this thread, post #32 and below:
http://www.tsptalk.com/mb/showthread.php?p=137906
TRAFFIC_DOG
Member
Here's an angle I think we can push if we can't stop the train.
They need to let us make a one time, in service, transfer from our TSP to a qualified self directed IRA. The amount would be up to but not more than all employee contributions in excess of the 5% required to get max gov't matching, from the day the current rules w/daily valuations were put into effect until said transfer is completed.
They are changing the rules mid-stream.
These new rule are an effective penalty.
Acknowlege this penalty with this appropriate redress.
They need to let us make a one time, in service, transfer from our TSP to a qualified self directed IRA. The amount would be up to but not more than all employee contributions in excess of the 5% required to get max gov't matching, from the day the current rules w/daily valuations were put into effect until said transfer is completed.
They are changing the rules mid-stream.
These new rule are an effective penalty.
Acknowlege this penalty with this appropriate redress.
James48843
Well-known member
It's an idea to consider. We've got several ideas floating right now. We plan to do a survey this weekend and see what people want to do, which ones have the broadest support and which ones have less support. The one thing we do know is that there appears to be universal opposition to just flat out limits.
If you have signed up for the TSPSHAREHOLDER.ORG newsletter, you'll get one of the surveys later this weekend. We're still working on the language. I encourage anyone who wants to participate to sign up for the newsletter at http://tspshareholder.org
Plus- we now have the first four TSPSHAREHOLDER newsletters on-line, for anyone who wants to view.
We're fighting back. Will you join us?
Thanks
If you have signed up for the TSPSHAREHOLDER.ORG newsletter, you'll get one of the surveys later this weekend. We're still working on the language. I encourage anyone who wants to participate to sign up for the newsletter at http://tspshareholder.org
Plus- we now have the first four TSPSHAREHOLDER newsletters on-line, for anyone who wants to view.
We're fighting back. Will you join us?
Thanks
James - this is indeed valuable information - great find! I assume you don't mind if some of us include this information (basically verbatim) in our letters and e-mails to the ETAC members? ETAC meets with FRTIB on Dec. 19th, so I think it's critical that we get this information in the hands of as many ETAC members as possible before then. Thanks again for all your hard work on this......
Show-me
Well-known member
Just sent this one out:
Just a reminder that I oppose the changes that the Federal Retirement Thrift Investment Board (FRTIB) is trying to impose to the TSP plan and the need for better access through the internet to the Employee Thrift Advisory Board.
I believe a large majority of participants are not aware this is happening. I feel these changes will limit my ability to make investment decisions during market volatility.
I get the impression the FRTIB would like for us to all blindly allocate to one of the L Funds and never look at our TSP plan again. A L Fund that “rebalances daily”. I oppose that. The FRTIB has changed the default fund from the G Fund to the age appropriate L Fund in an attempt to save new participants from themselves and these interfund transfer limits are along the same line of thinking.
I have studied the FRTIB meeting minutes and found a correlation to market volatility and the months that have the highest “trading cost”. During volatile months participants move in a “flight to safety” in order to preserve capital. Limiting us to 2 interfund transfer a month will not stop that “flight to safety” and will limit us from getting back into the market after the volatility settles down.
A error or omission in Ms. Tracy Ray’s report was brought to my attention that in one graph interfund transfers was represented but not the “daily rebalancing” of the L Fund. The L Fund participation is growing and as it does so does the dollar amount of “daily rebalancing”. That cost money, but is not represented in her report.
The L Fund Investment Balances have increased from $7,895,00 and 214,779 participants on 12/31/2005 to $22,840,000 and 543,213 participants on 9/30/2007.
A increase of over two times the number of participants and over three times the L Fund Investment Balance. A balance that is rebalanced “daily”.
If they can rebalance the L Funds daily, they can let me rebalance my account more the twice a month.
In summary, while the trading costs has went up, so has the total number of participant, account balances, and the number of participants becoming more active in managing their retirement. The FRTIB needs to catch up with the current times and the fact that with the “internet age” TSP participant are become more informed investors.
While the FRTIB would like to push the L Fund down everyone’s throat and they waged a massive and expensive marketing campaign for it, they have not actively contacted all participants about these new massive “restrictions” they want to impose or investigated all alternatives.
Please oppose these restrictions and find a better way.
Just a reminder that I oppose the changes that the Federal Retirement Thrift Investment Board (FRTIB) is trying to impose to the TSP plan and the need for better access through the internet to the Employee Thrift Advisory Board.
I believe a large majority of participants are not aware this is happening. I feel these changes will limit my ability to make investment decisions during market volatility.
I get the impression the FRTIB would like for us to all blindly allocate to one of the L Funds and never look at our TSP plan again. A L Fund that “rebalances daily”. I oppose that. The FRTIB has changed the default fund from the G Fund to the age appropriate L Fund in an attempt to save new participants from themselves and these interfund transfer limits are along the same line of thinking.
I have studied the FRTIB meeting minutes and found a correlation to market volatility and the months that have the highest “trading cost”. During volatile months participants move in a “flight to safety” in order to preserve capital. Limiting us to 2 interfund transfer a month will not stop that “flight to safety” and will limit us from getting back into the market after the volatility settles down.
A error or omission in Ms. Tracy Ray’s report was brought to my attention that in one graph interfund transfers was represented but not the “daily rebalancing” of the L Fund. The L Fund participation is growing and as it does so does the dollar amount of “daily rebalancing”. That cost money, but is not represented in her report.
The L Fund Investment Balances have increased from $7,895,00 and 214,779 participants on 12/31/2005 to $22,840,000 and 543,213 participants on 9/30/2007.
A increase of over two times the number of participants and over three times the L Fund Investment Balance. A balance that is rebalanced “daily”.
If they can rebalance the L Funds daily, they can let me rebalance my account more the twice a month.
In summary, while the trading costs has went up, so has the total number of participant, account balances, and the number of participants becoming more active in managing their retirement. The FRTIB needs to catch up with the current times and the fact that with the “internet age” TSP participant are become more informed investors.
While the FRTIB would like to push the L Fund down everyone’s throat and they waged a massive and expensive marketing campaign for it, they have not actively contacted all participants about these new massive “restrictions” they want to impose or investigated all alternatives.
Please oppose these restrictions and find a better way.
Show-me
Well-known member
This is the big push, December 19 is the ETAC meeting. Copy and paste the letter or just write. "I am opposed to TSP interfund transfer limits. I want it to stay as is."
Check out www.tspshareholder.org and call the folks on the Contact List.
Check out www.tspshareholder.org and call the folks on the Contact List.
Nice job Paladin!
oreo
Member
http://www.governmentexecutive.com/story_page.cfm?articleid=38858&dcn=todaysnews
TSP officials hear from participants on interfund restrictions
By Brittany R. Ballenstedt bballenstedt@govexec.com December 17, 2007
Thrift Savings Plan officials said Monday they were receiving both positive and negative feedback on a new proposal to limit the number of interfund transfers that participants can conduct each month.
Officials overseeing the 401(k)-style plan said so far the TSP has received two letters in favor of and 10 letters opposed to interfund transfer restrictions. They pointed specifically to a letter sent Nov. 27 by one participant, who opposed the plan's taking away the rights of participants to "protect their investments."
"Please let me control my money," the TSP member wrote. "If cost is an issue, charge participants when they move their money from one investment vehicle to another."
Officials said at a regular board meeting last month that they would begin allowing participants only two interfund transfers per month in April 2008. Thereafter, additional transfers would be allowed only into the government securities fund.
The change is a result of a recent analysis by TSP officials on the impact of trading activity on fund management and transaction expenses. Officials studied the fund with the highest costs, the International fund, and found that in September and October, the average daily trade was $224 million, far above the daily trades of $49 million in 2006 and $27 million in 2005.
Officials highlighted additional evidence of the impact of frequent trading at Monday's meeting, noting that more than $25 billion has been traded out of the I Fund in the past 12 months, resulting in trading costs of nearly $16 million.
"As far as I'm concerned, you have my total support," said Andrew Saul, chairman of the Federal Retirement Thrift Investment Board. "This is a savings account; this is a retirement account, and it is the board's [duty] to make sure nothing can derail the fact that this is a long-term plan."
On Wednesday, TSP officials will meet with the Employee Thrift Advisory Council, which consists of labor unions and other federal employee groups, to discuss the restrictions. The proposal also will be published in the Federal Register and open to public comment before moving forward, said TSP Executive Director Gregory Long.
Meanwhile, TSP officials also said they are experiencing some challenges in phone center support, largely due to the introduction of new account numbers to replace Social Security numbers. Since October, the plan is receiving about 15,000 calls per day, up from its usual 9,000, according to Pamela Jeanne Moran, TSP's director of participant services.
Moran said one of the plan's priorities for 2008 is to establish a customizable user identification for participants. "That will make a whole lot of folks happy because they will now be able to memorize their user ID," she said.
Additionally, Legislative Director Thomas Trabucco said TSP officials are scheduled to meet with Senate and House committee staff Monday afternoon to discuss potential legislation that would allow automatic employee enrollment and change the default fund for indecisive investors.
Trabucco noted that committee staffers are particularly concerned with the automatic enrollment proposal, largely because of its associated cost implications. While the Congressional Budget Office has not submitted an official estimate, Trabucco said an unofficial accounting indicates the proposal could cost hundreds of millions of dollars, largely because more federal employees would be deferring some of their salary from their taxable income.
"This would have a significant revenue expense to the Treasury," Trabucco said. "With that in mind, we're sitting down with staff to come to an agreement on language and what it means."
TSP officials hear from participants on interfund restrictions
By Brittany R. Ballenstedt bballenstedt@govexec.com December 17, 2007
Thrift Savings Plan officials said Monday they were receiving both positive and negative feedback on a new proposal to limit the number of interfund transfers that participants can conduct each month.
Officials overseeing the 401(k)-style plan said so far the TSP has received two letters in favor of and 10 letters opposed to interfund transfer restrictions. They pointed specifically to a letter sent Nov. 27 by one participant, who opposed the plan's taking away the rights of participants to "protect their investments."
"Please let me control my money," the TSP member wrote. "If cost is an issue, charge participants when they move their money from one investment vehicle to another."
Officials said at a regular board meeting last month that they would begin allowing participants only two interfund transfers per month in April 2008. Thereafter, additional transfers would be allowed only into the government securities fund.
The change is a result of a recent analysis by TSP officials on the impact of trading activity on fund management and transaction expenses. Officials studied the fund with the highest costs, the International fund, and found that in September and October, the average daily trade was $224 million, far above the daily trades of $49 million in 2006 and $27 million in 2005.
Officials highlighted additional evidence of the impact of frequent trading at Monday's meeting, noting that more than $25 billion has been traded out of the I Fund in the past 12 months, resulting in trading costs of nearly $16 million.
"As far as I'm concerned, you have my total support," said Andrew Saul, chairman of the Federal Retirement Thrift Investment Board. "This is a savings account; this is a retirement account, and it is the board's [duty] to make sure nothing can derail the fact that this is a long-term plan."
On Wednesday, TSP officials will meet with the Employee Thrift Advisory Council, which consists of labor unions and other federal employee groups, to discuss the restrictions. The proposal also will be published in the Federal Register and open to public comment before moving forward, said TSP Executive Director Gregory Long.
Meanwhile, TSP officials also said they are experiencing some challenges in phone center support, largely due to the introduction of new account numbers to replace Social Security numbers. Since October, the plan is receiving about 15,000 calls per day, up from its usual 9,000, according to Pamela Jeanne Moran, TSP's director of participant services.
Moran said one of the plan's priorities for 2008 is to establish a customizable user identification for participants. "That will make a whole lot of folks happy because they will now be able to memorize their user ID," she said.
Additionally, Legislative Director Thomas Trabucco said TSP officials are scheduled to meet with Senate and House committee staff Monday afternoon to discuss potential legislation that would allow automatic employee enrollment and change the default fund for indecisive investors.
Trabucco noted that committee staffers are particularly concerned with the automatic enrollment proposal, largely because of its associated cost implications. While the Congressional Budget Office has not submitted an official estimate, Trabucco said an unofficial accounting indicates the proposal could cost hundreds of millions of dollars, largely because more federal employees would be deferring some of their salary from their taxable income.
"This would have a significant revenue expense to the Treasury," Trabucco said. "With that in mind, we're sitting down with staff to come to an agreement on language and what it means."
James48843
Well-known member
The article says: "Officials overseeing the 401(k)-style plan said so far the TSP has received two letters in favor of and 10 letters opposed".
Only ten letters opposed? We have over 2,000 signatures on the petition so far.
We need to publish a FAX number for the Thrift Board, and get everyone to start faxing a copy of their letter there as well.
Show-me, do you have the Thrift Board's fax number handy?
Only ten letters opposed? We have over 2,000 signatures on the petition so far.
We need to publish a FAX number for the Thrift Board, and get everyone to start faxing a copy of their letter there as well.
Show-me, do you have the Thrift Board's fax number handy?
Show-me
Well-known member
[SIZE=-1]How about the Executive Director?[/SIZE]
[SIZE=-1]Mr. Gregory T. Long Executive Director[/SIZE]
glong@tsp.gov
Phone 202.942.1601
Fax 202.639.4428
[SIZE=-1]Mr. Gregory T. Long Executive Director[/SIZE]
glong@tsp.gov
Phone 202.942.1601
Fax 202.639.4428
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