can't say enough bad about the new TSP website

[Bubba]

There are so many things that I cannot stand...but now a new one just entered my orbit. When making a funds transfer, you have to be very, very careful. I went from 100% G (a few weeks ago) to what I thought was 50% G and 50% C. Given how clunky the website is, it actually went to 75% G and 25% C. Why? Because when I selected this new setup, it asked me how much I wanted to go. So, I put 50% C. What it instead understood was 50% of 50%.

I'm beyond tired of someone that tells me that business always has the solution to government. Everything worked perfectly until this Alight change over. Anyone else remember the FUBAR wording from Saving Private Ryan???

[Aitrus]

You're not alone. Took me a while to figure out the nuances of the portions of the site I use most frequently too.

[bloobs]

There are so many things that I cannot stand...but now a new one just entered my orbit. When making a funds transfer, you have to be very, very careful. I went from 100% G (a few weeks ago) to what I thought was 50% G and 50% C. Given how clunky the website is, it actually went to 75% G and 25% C. Why? Because when I selected this new setup, it asked me how much I wanted to go. So, I put 50% C. What it instead understood was 50% of 50%.

I'm beyond tired of someone that tells me that business always has the solution to government. Everything worked perfectly until this Alight change over. Anyone else remember the FUBAR wording from Saving Private Ryan???

Hmm...i plan to make a couple more IFTs beyond my standard 2 this month (both to incrementally increase my G allocations). Let's see if that allowed exception still works in the new platform. IF not, well.....

[TopNotch]

It looks like you have to sign up for the mutual fund window before you can even see the available mutual funds. Is that right? Struggled trying to see what they offer. Not that I'd buy any cause they're a ripoff. Just for sh#$% and giggles.

[Scarfinger]

It looks like you have to sign up for the mutual fund window before you can even see the available mutual funds. Is that right? Struggled trying to see what they offer. Not that I'd buy any cause they're a ripoff. Just for sh#$% and giggles.

Yes you have to sign up for it which I did to look around. I will never be transferring any money to the window.

[Bubba]

It looks like you have to sign up for the mutual fund window before you can even see the available mutual funds. Is that right? Struggled trying to see what they offer. Not that I'd buy any cause they're a ripoff. Just for sh#$% and giggles.

I've been working off of this list https://www.alightfinancialsolutions.co ... ndList.pdf. I'm not sure if it's current (from 2020), but from what I've read, it should be right.

[Bubba]

It looks like you have to sign up for the mutual fund window before you can even see the available mutual funds. Is that right? Struggled trying to see what they offer. Not that I'd buy any cause they're a ripoff. Just for sh#$% and giggles.

Yes you have to sign up for it which I did to look around. I will never be transferring any money to the window.

Ok, so I have a couple of questions for you.

1. When you signed up, did that mean you had to pay or what could you do just to nosy around without being charged?
2. What was the holding time for a mutual fund? The "hard working" people at Alight are not willing/able to respond to that question. They keep telling me that it's based on the rules of the mutual fund. For example, ProFunds are made to trade daily, so can I trade those in daily increments (given that I'm paying a hefty fee to do so)? Note that's just an example, not a request for suggestions on how that's not a good idea.

[Scarfinger]

It looks like you have to sign up for the mutual fund window before you can even see the available mutual funds. Is that right? Struggled trying to see what they offer. Not that I'd buy any cause they're a ripoff. Just for sh#$% and giggles.

Yes you have to sign up for it which I did to look around. I will never be transferring any money to the window.

Ok, so I have a couple of questions for you.

1. When you signed up, did that mean you had to pay or what could you do just to nosy around without being charged?
2. What was the holding time for a mutual fund? The "hard working" people at Alight are not willing/able to respond to that question. They keep telling me that it's based on the rules of the mutual fund. For example, ProFunds are made to trade daily, so can I trade those in daily increments (given that I'm paying a hefty fee to do so)? Note that's just an example, not a request for suggestions on how that's not a good idea.

There is no charge to open the account. Once you transfer money to the "Mutual Fund" is when the hurt starts. I am trying to remember... There was a static annual fee and then there was maybe a transfer fee and definitely there was a transaction fee per trade. I believe you are still limited to the trade limits of 2 per month.

The main draw would be to participate in more specific funds like US or International small cap value, large cap value and emerging market funds ect. The problem is that all these funds also have there own fees and some were approaching 2% was is ridiculous to me. Also you are limited on the amount of money you can put in the fund based on your current TSP account balance. Considering the static annual fee + trading fees + expensive fund fees and limiting the amount of money you can open an account with... it is a gimmick and its a NO for me.

But if I were you I would open an account and look around. Check out all the fees and funding limitations. There is no charge unless they are actually managing some money for you.

[Scarfinger]

MUTUAL FUNDS1
Transaction Fees2
Mutual Fund Purchases/Sales: $28.75
Exchanges within the same fund family $28.75 (charged on purchase only)
Exchanges between fund families $57.50 ($28.75 charged on purchase and sale)
Mutual Funds offered by prospectus only
Account Fees
Annual Maintenance Fee $150
Duplicate Statement $5

(also subject to: individual fund minimums and expenses)

[Scarfinger]

You can invest up to 25% of your savings plan in your MFW account.
Your initial transfer into a MFW account must be $10,000 or more. This means that you are required to have a balance of $40,000 or more in your savings plan to open a MFW account.
After your initial investment, there is no minimum for each individual transfer.
If you request a money transfer between your Thrift Savings Plan core investments and MFW Account by 12 p.m. ET, your funds will be available for trading in your MFW the next business day. Transfers requested after 12 p.m. ET are processed the following business day.

You can transfer money from your Thrift Savings Plan core funds into your Mutual Fund Window Account at any time, however, transfers in will count towards the two per month savings plan rules.

[jimcasada]

I just opened a CD account with Forbright Bank at 5.65% APY compounded monthly. It's not tax deferred, but it's guaranteed by the US government for up to $250k.

[Bubba]

Yes you have to sign up for it which I did to look around. I will never be transferring any money to the window.

Ok, so I have a couple of questions for you.

1. When you signed up, did that mean you had to pay or what could you do just to nosy around without being charged?
2. What was the holding time for a mutual fund? The "hard working" people at Alight are not willing/able to respond to that question. They keep telling me that it's based on the rules of the mutual fund. For example, ProFunds are made to trade daily, so can I trade those in daily increments (given that I'm paying a hefty fee to do so)? Note that's just an example, not a request for suggestions on how that's not a good idea.

There is no charge to open the account. Once you transfer money to the "Mutual Fund" is when the hurt starts. I am trying to remember... There was a static annual fee and then there was maybe a transfer fee and definitely there was a transaction fee per trade. I believe you are still limited to the trade limits of 2 per month.

The main draw would be to participate in more specific funds like US or International small cap value, large cap value and emerging market funds ect. The problem is that all these funds also have there own fees and some were approaching 2% was is ridiculous to me. Also you are limited on the amount of money you can put in the fund based on your current TSP account balance. Considering the static annual fee + trading fees + expensive fund fees and limiting the amount of money you can open an account with... it is a gimmick and its a NO for me.

But if I were you I would open an account and look around. Check out all the fees and funding limitations. There is no charge unless they are actually managing some money for you.

Thanks for all the info! I'm looking at using ProShares (I already made a "special" system and backtested it to 1998), so even if the fees are outrageous, if my system works, it'll be worth it (so a year or 2 of testing would make sense before I could claim "victory"). Having said that, the number one pain would be a holding period for my plan. While I try to make no changes within a 3 month period, sometimes I had to do so within a month (based on signals I use) within my system. That makes the holding period ultra important for me.

I was really bothered that the people at TSP (Alight) couldn't answer that question. Also, since last week I can't even e-mail them any more.

Once again, I can't say enough bad stuff about them and their system.

[Bubba]

I just opened a CD account with Forbright Bank at 5.65% APY compounded monthly. It's not tax deferred, but it's guaranteed by the US government for up to $250k.

Funny story...months ago I contact M1 about their new high yield savings account. At the time of opening, they offered a juicy 5% APY (while BIL and others were only giving 4.5%). I was excited to open the account. After filling out all the details, I listed my mailing address, which is an APO address. They subsequently refused my request because they don't work with "PO boxes." I then sent them USPS information on the difference between APO and PO boxes and tried to explain that difference. There was no budge. So I had to undo my request.

The best part of all of this is that I have a small investment account with M1. Fun how that works!

[fattony]

Just an FYI for those retired and getting distributions. If you want to "change" the amount that you get you must first "cancel" your distributions then recreate it. The good thing is that it saved my routing and account numbers from the distribution that I canceled. It would have been easier if I could change the amount but at least you can do this online now. You used to have to do it by filling out a form, getting it notarized, and then mailing i in.