We believe the rule change violates the Administrative Procedures Act. In addition, we believe that, as written, the rule allows "sanctions" on employees, without due process and a public hearing. Read more about the Federal Register Notice in the newsletter's seciton of this website. Further, we are talking about options over on TSPTALK.COM. After you read the newsletters, and sign the petition, please join us at http://tsptalk.commessage boards, in the section titled "Fighting Back".
Who can stop this assumption of control of your money?
It starts with the Employee Thrift Advisory Board. (ETAC) The ETAC is a 14-member group, consisting of union and management representatives, that advises the FRTIB on matters related to the TSP. Gregory Long, Executive Director of Federal Retirement Thrift Investment Board, was quoted as saying they (FRTIB) would need to discuss the proposed IFT restrictions with ETAC before it was finalized. We really need to flood these people with our calls and e-mails! Here is the contact list of those board members.
We're asking that you pick up the phone, and CALL EACH ONE ON THE LIST, and tell them that you want them to oppose these limits on TSP trading. Explain to them how it is YOUR MONEY, not the TSP's money, and that, while you understand the Board's concernes, there are other ways to solve any issue. That the important thing is that the ability to move is a critically important part of the Thrift Savings system, and before the Thrift Board spends any money to impose limits, they need to back off, and get TSP shareholder input.
In the recent survey about the proposed TSP trading limits conducted by Federaltimes.com, a whopping 90% of federal employees opposed the change that the Thrift Board wants to make. 63% Wanted to continue with unlimited trades, and no charges. An additional 20% stated they would be o.k. with charges, but that unlimited ability to trade must be maintained.
This is the message that all those on the Employee Board need to know- that you support unlimited trading, either with a small fee, or, preferably, with no fee at all. It is important that EVERY PERSON READING THIS picks up a phone, and calls. NOW. Not two weeks from now, but today.
There is a discussion board now talking things over on the TSPTALK.COM message boards.
Included in these discussions are the first ideas on how to fight back
against imposed limits to TSP trades.
Here is the link: What you can do
to fight back!