Public Service Announcement: TSP.gov downtime

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Aitrus
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Public Service Announcement: TSP.gov downtime

Post by Aitrus »

I just received the below email from TSP. It concerns a move to a new service provider at the end of May. It appears that one side effect of the transition will be the inability to conduct IFTs on your accounts.
____________________________________________________________
Dear Participant:

In order to add exciting new features to your TSP experience, we’re transitioning administrative services to a new service provider later this year. You need to know how this transition might affect you, especially if you were planning to request a transaction soon. Be sure to visit our website to see key transition dates when we’ll need to temporarily suspend certain transactions and services. Planned downtime like this is typical of major, complex processes, and you may remember a similar situation when we added flexible withdrawal options in 2019.

We expect to complete the transition the first week of June. You’ll still have access to the same low-cost TSP funds, account management tools, and participant services you enjoy now. You’ll also be able to use new features that give you more choices, more layers of security, and more efficient ways to manage your retirement income with us.

You can find a list of transition dates on our website, which vary by transaction or service. Some key transactions will be temporarily unavailable beginning Monday, May 16. These include submitting a request for a loan, withdrawal, or distribution from your TSP account. All transactions and services, including My Account and the ThriftLine, will be temporarily unavailable after Thursday, May 26, and until the first week of June, when the transition period ends.

Rest assured that during this transition period, your money will remain invested in the TSP funds you’ve chosen. There will be a short period—beginning at noon eastern time on Thursday, May 26, and ending the first week of June—when we’ll need to suspend changes to TSP investments. This means that your TSP investments will still be subject to market gains and losses during this brief period, and you won’t be able to make changes until after the transition to the new service provider.

When the transition period ends the first week of June, you’ll have several options for accessing and managing your TSP account. Your main source for account details and transaction requests continues to be My Account—with a new look and feel, new tools, and more ways to connect with us through live chat and virtual assistance. You’ll also be able to download an official TSP Mobile App with the option to use your device biometrics, such as fingerprint or facial recognition, to secure and access your account. When our mobile app becomes available, we’ll post links on our website so you can be confident about downloading the one that’s from the TSP.

When you access your account for the first time after the transition, you’ll need to set up new login credentials. Step-by-step prompts will make it simple for you to verify your identity, update your contact information, and set up your account security. Every TSP participant will need to go through this setup process whether or not you’ve set up online access previously. Setting up this access is critical to ensuring that you receive TSP communications about your account and account transactions.
__________________________________________________________

I advise everybody to plan accordingly. I'm sure that this will affect more than one seasonal strategy.
Seasonal Musings 2022: viewtopic.php?f=14&t=19005
Recommended Reading: http://tspcenter.com/forums/viewtopic.php?f=14&t=13474
"It's not what happens to you, but how you react to it that matters" Epictetus

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bloobs
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Re: Public Service Announcement: TSP.gov downtime

Post by bloobs »

Aitrus wrote: Tue Mar 29, 2022 1:38 pm ..........There will be a short period—beginning at noon eastern time on Thursday, May 26, and ending the first week of June—when we’ll need to suspend changes to TSP investments.....
IFTs should resume by "first week of June..." Anybody else feel all warm and fuzzy from this statement?

harpole
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Re: Public Service Announcement: TSP.gov downtime

Post by harpole »

I think I'll transfer to G fund on May 25th to play it safe.
Never underestimate the true intentions and overreach of the regime.

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TopComm
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Re: Public Service Announcement: TSP.gov downtime

Post by TopComm »

I can see it now May 26th over $700 billion is pulled out of the markets and into the G fund.

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bloobs
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Re: Public Service Announcement: TSP.gov downtime

Post by bloobs »

TopComm wrote: Tue Mar 29, 2022 3:38 pm I can see it now May 26th over $700 billion is pulled out of the markets and into the G fund.
The market movers will cash out first on the 25th

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Aitrus
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Re: Public Service Announcement: TSP.gov downtime

Post by Aitrus »

bloobs wrote: Tue Mar 29, 2022 2:46 pm
Aitrus wrote: Tue Mar 29, 2022 1:38 pm ..........There will be a short period—beginning at noon eastern time on Thursday, May 26, and ending the first week of June—when we’ll need to suspend changes to TSP investments.....
IFTs should resume by "first week of June..." Anybody else feel all warm and fuzzy from this statement?
Falls squarely into the category of "I'll believe it when I see it."
Seasonal Musings 2022: viewtopic.php?f=14&t=19005
Recommended Reading: http://tspcenter.com/forums/viewtopic.php?f=14&t=13474
"It's not what happens to you, but how you react to it that matters" Epictetus

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Tomanyiron
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Re: Public Service Announcement: TSP.gov downtime

Post by Tomanyiron »

Funny thing is, I started to do a search on Google. “How many business d” That’s as far as I got before the auto-complete finished the question with. “how many business days until may 26”
Try it and see.

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TopComm
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Re: Public Service Announcement: TSP.gov downtime

Post by TopComm »

Interesting, I got to “how many busi” before it popped in my suggestions. May 25 may be the right date - bloobs. I usually try not to deviate from my strategy unless it is calling for F - when I know F is broken. I think I may deviate and take a G breather.

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bloobs
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Re: Public Service Announcement: TSP.gov downtime

Post by bloobs »

TopComm wrote: Tue Mar 29, 2022 9:02 pm Interesting, I got to “how many busi” before it popped in my suggestions. May 25 may be the right date - bloobs. I usually try not to deviate from my strategy unless it is calling for F - when I know F is broken. I think I may deviate and take a G breather.
You're doing well this year so far so you can spare a breather :D

I on the other hand am scheduled to be in S before and during this period. :x during what empirical data (democrat in office, midyear election year) shows is a volatile period. :x

But I like to think the smart money and institutional investors (as compared to us retail fools) play chess instead of checkers. Meaning that since us TSP retailers will jump on the sell everything bandwagon by dumping all by May 25th and drive total equity market share prices down, they'll swoop right in and buy it all back right at its lowest point on May 25th and thereafter--driving prices back up during that period. :idea:

Or not. :wink:

seawatcher
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IFT DEADLINE MAY 25 (if in stock funds now)

Post by seawatcher »

If I understand this message correctly, the last opportunity to make an IFT is before noon on May 25. And it's not clear when we will be able to IFT in June. The way the market has been up and down, long-term down, are you moving to G before May 25 or staying put in C, S, or I? Rally looks good this morning and hoping it might continue the rest of today and next week!

From TSP web site: While your current TSP investments will remain active during this transition period, we’ll need to temporarily suspend investment changes toward the end of the transition period, beginning May 26, 2022. That means you won’t be able to change your investment choices during this brief time.
Good luck with your TSP and retirement plans!

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12squared
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Re: IFT DEADLINE MAY 25 (if in stock funds now)

Post by 12squared »

seawatcher wrote: Fri May 13, 2022 11:36 am If I understand this message correctly, the last opportunity to make an IFT is before noon on May 25.
...
From TSP web site: While your current TSP investments will remain active during this transition period, we’ll need to temporarily suspend investment changes toward the end of the transition period, beginning May 26, 2022. That means you won’t be able to change your investment choices during this brief time.
I believe the cutoff is May 26, at noon.
see https://www.tsp.gov/new-tsp-features/ke ... ion-dates/
scroll down to "Investments" section
“The genius of investing is recognizing the direction of the trend — not catching the highs or the lows.”
- Dean Witter

"You'll have to adapt or you'll be out of style."
- Robert Smith

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Fund Prices2022-08-15

FundPriceDayYTD
G $16.99 0.02% 1.53%
F $19.14 0.23% -8.37%
C $65.49 0.40% -8.98%
S $71.11 0.23% -14.77%
I $33.96 -0.58% -13.89%
L2065 $13.19 0.04% -11.34%
L2060 $13.20 0.04% -11.33%
L2055 $13.20 0.04% -11.33%
L2050 $27.12 0.05% -9.67%
L2045 $12.44 0.05% -9.01%
L2040 $45.67 0.05% -8.29%
L2035 $12.14 0.05% -7.49%
L2030 $40.68 0.04% -6.65%
L2025 $11.70 0.04% -4.46%
Linc $23.04 0.04% -1.89%

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