TSP Withdraw

[nickatnite]

Just an FYI to let you all know what you're in for if you ever decide to leave TSP (why would anyone in their right mind want to do that?). They cut a check and put it in the U.S. Mail Service. NO certified mail, nor registered mail, nor any other kind of tracking system just the U.S. Mail. Mine has been in route for 8 days now and I just pray that it shows up at my Trade King account. They (Trade King) tried to get them (TSP) to do some kind of electronic fund transfer but NO let's just stick in the mail and hope for the best. With all the money they make off of the maintenance fees you would think that they could have a better more secure system of transferring our hard earned money???

[rfalcan]

I'm getting ready to request a rollover - is that what you did or did you just request the funds be transfered?

[Robvegas]

You have to be kidding. We're talking 6-7 figures here I would pick it up in person.

[journeyman]

that seems really odd. i would think it'd be cheaper to do an electronic transfer (ACH is cheap, ACAT might be a little more) rather than use snail mail.

[nickatnite]

I did a roll over to my Trade King account (on line brokerage). They requested that the funds be transferred via ACH but TSP said NO. They cut a check they put it in the mail NO exceptions. Heck I don't even know if you could pick it up in person. The check is cut from the U.S. Treasury and then mailed via U.S.P.S (plain mail). I questioned TSP about this procedure and two times they hung up on me. The third time they finally answered my questions and when I questioned the lack of security of this method they just said "that's the way it's done!" My check finally showed up at Trade King 8 days later (boy was I nervous)! GOOD LUCK!!!