What YOU can do to fight back - IFT limit

[Fivetears]

Yep, some wisdom from Michael Edward Palin is called for. The final lyrics say it all.

100% of ZERO is ZERO....see what I mean:
How do you like THIS shell game?! Sets the stage for Barclays and others that have to put up guarantees of >100%, doesn't it???

 

[rockhound]

Just got off the phone with the wonderful TSP folks in Birmingham. I am one of the lucky ones locked out electronically and now relegated to snail mail. Mailed off my TSP50,...which they acknowledged receipt of on Tuesday the 8th. The request was made so I could bail to G from C fund. I took a big hit today. Anyhow, they said thanks for the request,....and it should be processed maybe Monday, maybe Tuesday, but definitely by Wednesday COB.

James 4483,

Thanks for providing the petition,...I really appreciate your efforts.


I am definitely not a happy camper.

 

[Eagle_Addict]

Just got off the phone with the wonderful TSP folks in Birmingham. I am one of the lucky ones locked out electronically and now relegated to snail mail. Mailed off my TSP50,...which they acknowledged receipt of on Tuesday the 8th. The request was made so I could bail to G from C fund. I took a big hit today. Anyhow, they said thanks for the request,....and it should be processed maybe Monday, maybe Tuesday, but definitely by Wednesday COB.

James 4483,

Thanks for providing the petition,...I really appreciate your efforts.


I am definitely not a happy camper.

I know what you mean, I posted this earlier to a different forum here:


I sent a TSP-50 request via Priority Mail with Delivery Confirmation on Monday evening and have the USPS proof that the package was delivered to the TSP address on Wednesday, 9 April 2008 at 1035 AM. The website shows the following:
+++++++++++++++++++++++++++

Label/Receipt Number: 9101 7850 9140 1524 1991 09
Status: Delivered

Your item was delivered at 10:25 AM on April 9, 2008 in BIRMINGHAM, AL 35238.
+++++++++++++++++++++++++++

As of Friday evening, I show nothing has happened to my account, I am still 40% in stocks and have been locked in all week........My goal was to miss this meltdown today that I knew was coming, so now I drop a few thousand dollars because some TSP employee cannot process these TSP-50s in a timely manner???? What good would sending an overnight request be if some minimum wage envelope opener cannot process a request within 2 days????? Kind of pissed, what can we do about this??I think the TSP needs to give an assurance that a request will be placed in the system within 24 hours of receipt, DON'T THEY WORK FOR US?!?!?!?!?!?!?!?!?

Very ticked off, what are our options??

Thanks, EA

 

[brucemh]

class action. you now have evidence of harm, to the tune of thousands, and evidence that you made your request in a timely manner, which they did not process in a timely manner. get a lawyer, there are many in the same boat now. band together.

I agree with Anidoc. Even though I am not locked out (so far), I (and probably many others) will still participate/support anyone starting a class action lawsuit. I believe that I have also been harmed by staying within the 3 interfund transfers/month interim rule limit.

 

[wolf_keith]

The failure to process these mail-in changes is just adding insult to injury! I figured this would happen this way, the Nazi's at the thrift board are harming OUR retirements without batting an eye. As I wrote in my letter to them, they have effectively locked me out of any control of my account by insisting on mail-in forms. May they die a slow and painfull way.

 

[qibovin]

I agree with Anidoc. Even though I am not locked out (so far), I (and probably many others) will still participate/support anyone starting a class action lawsuit. I believe that I have also been harmed by staying within the 3 interfund transfers/month interim rule limit.

I think, like so many other government bureaucracies, they fully expect to get away with this simply because no one will bother to legally challenge this. Even the phone companies and other industries have caught on to this technique, nickel and diming people to death with cryptic fees and surcharges that seem hardly worth the (purposefully emplaced) endless phone trees and unempowered layers of middle management in order to "fix." If the occassional customer does bother to protest in just the right way for long enough, they will often reluctantly fix things while they continue to collect from the other dumb souls, using those revenues to stave off your lawsuit.

So far, they appear to be right.

Will TSP participants continue to act like the lazy dog who whines constantly about the tack on which he's sitting but off of which he is not quite motivated enough to get? Much longer and the festering infection from the tack will kill the dog, and FRTIB will be beefing up their resumes with how much they saved on vet fees.

 

[Guest2]

I just received a FEDex Document Package delivery. I can't take anymore
bad news today. Has anyone received the same from the Federal Retire-
ment Thrift Inv out of Washington DC.? If so, what the hell is it now ? An
IV to take my blood more easily? SHOULD I OPEN IT ?

 

[FUTURESTRADER]

I just received a FEDex Document Package delivery. I can't take anymore
bad news today. Has anyone received the same from the Federal Retire-
ment Thrift Inv out of Washington DC.? If so, what the hell is it now ? An
IV to take my blood more easily? SHOULD I OPEN IT ?

What is it, Squale??..open it, open it

 

[Guest2]

What is it, Squale??..open it, open it

Last time I did that, I was snail mail restricted,,,,,pooh !

 

[Guest2]

ok, i opened it. i better go to my thread for this one

 

[Eagle_Addict]

ok, i opened it. i better go to my thread for this one

Just leave us dangling?!?!?!!? What is it?? Link please. I never picked up my 'certified letter' last month due to TDY restrictions, and when I got back, It was already returned......I am going to try Zimmy's approch and see where it gets me...

EA

 

[TRAFFIC_DOG]

Just wanted to let you know I'll be happy to be party to a class action suit.

I was one of the 549 restricted ones, but called immediately upon reciept of my certified letter. I had a fairly lengthy "venting" session with someone named Bonnie who could take no action herself but gave me a fax number for my written request to be restored to electronic IFT's. I faxed that request soon after.

I too advised that I didn't recieve any warning letter of Jan 24..... which I truly didn't.... and that seemed to be important in lifting me from the restricted list.

I demanded in my letter that they look at my account to see that I had voluntarily reduced my IFT's in anticipation of the pending changes. I believe this helped also as the end of their letter back to me warned me "... to continue to exercise restraint in the number of IFT's...."

I am being materially harmed as I am unable to "rebalance" my account as per my very successful strategy of a series of small percentage moves until I am positioned correctly.

Emotional distress......... moving $625,xxx at 11:00 and trying not to have a stroke before the market closes. I've posted before on my comfort with my old sytem..... restfull nights. No more, I can tell you.

I hate these jack-legs.

 

[qibovin]

I don't have the resources or time to initiate a lawsuit, but there are at least a hundred of us who will participate financially if someone gets the ball rolling. Or are we waiting to see what the final rule is?

DITTO on the time and resources, but I'll be 101 on the class action if somebody will get it going.

 

[Asylum]

DITTO on the time and resources, but I'll be 101 on the class action if somebody will get it going.

Perhaps y'all should check out this website:

http://www.sueeasy.com/

On its Web site, Mountain View, Calif.-based SueEasy says its "primary concern is for you to register a genuine complaint or grievance as quickly and as simply as possible."

 

[camper65]

There has been a lot of talk about "Class action, etc"..
Has anyone done anything or is it all just talk?
(I do know an attorney who has been excellent when butting heads with the goverment. but isn't it a bit late at the table by now?)

 

[camper65]

Again, has anyone done anything?

As a friend of mine once told me,
"Theres nothing like doing it, "LIKE DOING IT!"

 

[camper65]

If there is somthing here I don't know about, send PM.
Otherwise, there need to be an open forum and not back room activity!

 

[12%ayear]

spoke to a lovely customer service rep from the TSP. Very helpful indeed. Here is some updated news FWIW. You can now fax in your TSP-50. The Fax number is 866-817-5023. I mailed in my TSP-50 to enter the S Fund and it still was not received. This week it cost me over 7000 dollars from just waiting. This is very sad. I am still stuck in the G Fund. Also she told me they are aiming for the new rules to go into effect May/June. To be honest with everyone, I rather have my 3 EFTs including the last one to be the G Fund then to handle my trading this way. Trading with the TSP-50 is like playing the lottery. My luck ,when they receive and post my transfer to the S Fund, the market will be in a bad mood. I never seen anything more crazy than the way this is handled and I have been a trader since 1987 on my own. At the very least TSP should of punished us my giving us the 3 EFTs per month while we wait for the new rules to kick in. Another note..Appealing with Mr. Long, she told me it will take up to 30 days for him to respond. By the time this happens the new rules will be into effect. SAD

 

[12%ayear]

OK let me make a few bullets here for clarification, and you can answer me.

• She said they are accepting FAX TSP-50 from the 500 "evildoers"? That's not as good as electronic but much better than snail mail.
• Prior to the interim rule, we have always been able to mail, fax, or use TSP line for IFT's, so if they are accepting FAXed 50's from the 500, then they could probably use TSP line as well. Nothing said about this?
• Mr. Long has already stated verbally and in writing that the limits won't go into effect until at least May 1.

read the answer in my thread.

 

[bohammer]

I'll be 102