It is truly disheartening to see the lack of leadership of Congress. They TSP porgram works fine while inflation, gas prices, military conflicts and other challenges NEED to be addressed. Instead of facing up to its responsibilities, congress greedily follows the money and acts like a puppet to special interests. One need only look at the housing fiasco and the special treatment that Senator Dodd received from Countrytime to know that these folks are only in it to line their pockets. Cong. Rangel from NY is another example of using their office for personal gain. I am nearing the end of my federal tenure and truly am glad as I cannot continue to tolerate the incrediblly inept leadership of Reid and Pelosi.
Re: tsp
Retired DoC Fri Jul 25, 2008 9:35 PM
I agree completely, but just exiting the Federal service will not rescue you and the rest of us from the ineptitude, incompetence, and clear crookedness of Reid and Pelosi. But voting them out of office will!
The article sums this up very well, "The ultimate losers are likely to be the TSP investors. The winners will be the politicians who will collect campaign contributions from those that want a share of the fees from the TSP and the companies that are successful in getting their fund or company to become part of the TSP program".
With Reid and Pelosi, and others like them in Congress, our TSP will be doomed if these changes are made. Call, write, or email your representatives today and let's see if we can defeat this crazy bill before it becomes law!
Re: tsp
Auditor DoD Tue Jun 23, 2009 10:46 AM
People voted for change. Well, they got it!!
The TSP Fund
Internal Revenue Agent IRS Fri Jul 25, 2008 8:06 AM
Your article points out the adverse effects that H.R. 6500 will have on the participating government employees. I want to emphasize that making our retirement money a political football for the personal gain of politicians and resulting in a financial gain for their special interest groups at our expense is just ethically and morally wrong!!!
Are they also going to amend the Hatch Act so we can actively campaign against politicians who use our retirement money for personal gain at our expense? After all, fair is fair.
Re: The TSP Fund
Budget Analyst Garrison Fri Jul 25, 2008 12:38 PM
GOOD POINT!
Are they also going to amend the Hatch Act so we can actively campaign against politicians who use our retirement money for personal gain at our expense? After all, fair is fair.
Re: The TSP Fund
Specialist USDA Tue Aug 12, 2008 9:40 AM
I agree - they want to keep grabbing every little benefit we have - the answer is abolish the Hatch Act so federal employees can actively and openly campaign for those that protect our interests and against those lining their own pockets
Changing TSP Rules
Engineer Forest Service Fri Jul 25, 2008 8:33 AM
Bad idea. The first and second change seem benign enough and do not seem to change the index fund nature of the TSP. The third change is the last thing we need. We all know what politicians do with money they think they can get away with. Why should feds have to be second class citizens even in private property - employees OWN their 401(k)s. Does Arkansas State Teachers Retirement Fund ring a bell with anyone?
Investment Philosophy
typist vha Fri Jul 25, 2008 9:14 AM
Crooked politicians and crime on the streets.
Write Your Congressional Representative
IT Security Specialist USPS OIG Fri Jul 25, 2008 9:49 AM
This is just plain wrong. Leave our retirement funds alone. I urge all Federal employees to write their congressional representatives and ask that they vote against this measure. If employees do want more choices in their retirement funds, there are alternative investments to the TSP. The TSP works fine, so leave it alone.
A simple philosophy, but nonetheless true, "If it ain't broke, don't fix it."
TSP Meddling
Retired Contracts Manager Energy Fri Jul 25, 2008 10:12 AM
This is such a bad idea! How can we most effectively protest?
Typical...
HR specialist DOI Fri Jul 25, 2008 10:18 AM
...the TSP isn't broken, so of course, they want to "fix" it. I say not just "No!" but "Hell, NO!!!"
(sigh)
Nameless, Faceless Nobody DOD Fri Jul 25, 2008 10:19 AM
While 1 & 2 seem reasonable and benign, everything else is really scary. I think the reasonable changes are being offered to hide the scary ones.
A Roth is easy to do outside TSP. Lucky people who have enough to max out the amounts they can contribute to other plans.
Actively managed investments are a mistake in this kind of plan. Were the frequent traders stopped just to put frequent trading into the hands of invisible people beholden to Congress?
Quietly Changing the TSP's Investment Philosophy
Project Manager HUD Fri Jul 25, 2008 10:22 AM
Isn't that about like our leadership - always thinking of us, the worker-bees!! We have a very good TSP retirement fund and now they want to get their hands and those of their cronies on OUR money. Sounds a little like the "loans" from Social Security which have never been and likely will never be repaid.
We need to clean house!! Fire the likes of Mr. WAXMAN Mr. TOM DAVIS of Virginia, and Mr. DAVIS of Illinois.
Re: Quietly Changing the TSP's Investment Philosophy
Another Hard Working Federal Employee Various Mon Jul 28, 2008 4:05 PM
That's right Mr. HUD Project Manager. After this, it won't be long before Congress dips their little greedy fingers into our hard-earned money to pay for their "pork" & other "special interest" projects. Recall that already once before - during the gov't shut down, I beleive - these greedy individuals were already looking to supposedly "borrow" from the Thrift Savings Plan monies. Any body else remember this more clearer then I? We need to get these people out of office!
NO! NO!! NO!!!!
IT Specialist OCIO Fri Jul 25, 2008 10:22 AM
Congress has no business messing with TSP!! If it ain't broke, don't fix it!!! Given the opportunity, Congress will screw it up just like they do everything else they touch!!!
Changing the TSP
Financial Litigation Agent Department of Justice Fri Jul 25, 2008 10:24 AM
I worked for Qwest Communications for 26 years before the CEO book-cooked and ruined our 401K. The management fees there eat away at is what left of those who still have their money sitting in there. I beg of you, don't let this happen to our TSP. The Qwest funds are all garbage as far as I am concerned.
I have had to start over investing in a 401K. I was glad to enroll in the Federal Plan. Financial companies are out for themselves. Send this message to Congress. Maybe they want all of us on Medicaid when we can't work anymore. Changing the TSP is only good for greedy analysts and politicians and corporations. I have lived it, and I know.
Quietly Changing TSP Investment Philosophy
Ms. DoD Fri Jul 25, 2008 10:24 AM
Is there a petition to sign or anything we can do to let it be known that we don't want this?
Would Like Some More Index Funds
Manager Labor Fri Jul 25, 2008 10:25 AM
The problem we have now with the C fund is that the SP500 is (or, maybe was) so dominated by the finance sector. That sector's poor performance has pulled down the entire index. I would like to see a few more funds that would compliment the C and S -- something broad
Expanding TSP choices
Program Specialists AoA Fri Jul 25, 2008 10:26 AM
Your assessment is on point. I have invested in TSP from day one and the simplicity of selection and low cost has provided me with better than average returns. As a Federal employee, I do not want TSP to become a parallel to Wall Street. I am a minority and believe minority and women business should be given opportunity to compete, but I do not want to pay extra to provide them this opportunity. Now this my sound a lot like not in my back yard, but I have been a certified COR for more than thirty years and know a little about competition. Minorities and Women do not need additional help from a well meaning Congress. Leave TSP alone!
Changing rules
HMI DOT Fri Jul 25, 2008 10:28 AM
I like the second option, it would be nice to have a Roth as an option, I have plans to do so privately and heard about this and wanted to wait due to cost savings, but... if our reps include the third option, I'm outa here.
Makes Frequent Traders Look Like Choirboys
Geologist EPA Fri Jul 25, 2008 10:29 AM
Comrads - if you think that the recent loss of $15.5M due to frequent traders was a waste of money; wait until you start paying for the follies contained in H.R. 6500. Our fund expenses will take off like the price of gasoline.
Re: Makes Frequent Traders Look Like Choirboys
UL Manager ICE Fri Jul 25, 2008 1:28 PM
You tried to stop "frequent traders" from making money. It's truly folks like you who opened the door by telling congress that we couldn't manage our own funds. We have no one to blame but our own griping selves.
Just when I thought those educated idiots in congress couldn't mess things up any worse, they stumble in to one of the only bright spots in Federal employment and start befouling that.
With their approval rating lower than a snakes belly you think they would be keeping a lower profile.
Run the country,you morons, and leave the little guys alone. Quit marking your territory, the smell is overwhelming. Worse than my neighbors dog,marking everything.
Waste of money...
Environmental Scientist DOI Fri Jul 25, 2008 10:33 AM
Why is congress wasting tax payer money on trying to foul up a perfectly good retirement plan when they could be wasting it investigating sporting events and steroid use.
Changes to TSP
HR Specialist NARA Fri Jul 25, 2008 10:33 AM
I want to comment but don't even know where to begin. This is so wrong and so sad for so many. What's wrong with these people?!
Thrift Saving Plan Changes
HR Consultant Various Federal Agencies Fri Jul 25, 2008 10:36 AM
I believe that it was Warren Buffett who said that the average investor could simply put money into an index fund and not try to beat the market. That is what the thrift plan does. Congress want to change that to allow managed funds. Those seeking to do this are, of course, doing what they expect will personnel benefit them the most. So, who should be trust? Warren Buffett who is worth billions, or the Congess of the United States which is taking us into debt hundreds of billions of dollars each year.
TSP - Safe for how long?
Program Analyst VA Fri Jul 25, 2008 10:36 AM
Quite scary. Politicans need to keep their hands off of our retirement. Makes me wish I could retire now, take my money and run.
Hands off
Contracting Officer epa Fri Jul 25, 2008 10:39 AM
i might just lose my lunch over this one. Nothing's sacred.
TSP Changes
PSA VHA Fri Jul 25, 2008 10:40 AM
Simply, please leave my retirement funds alone. I'd really like to have something to retire on rather than face having to work until I drop, and that should also be my choice.
It's bad enough that we now bail out the people who over extended themselves and can't pay their mortgages, banks that fudge criteria for loans and then cry for help. Where is the help the middle class people who have learned to count their pennies, all pennies being equal, and gone without to pay their mortgages for their modest home.
Do something about outrageous gas prices and speculators, health insurance costs, medications; let us have safe food to eat, and safe toys for our children to play with. Let us have our jobs back so we can support ourselves, not excessively, but comfortably, and
Leave our retirement alone.
Re: TSP Changes
Engineer BOR Mon Jul 28, 2008 8:47 AM
I agree with your evaluation of the TSP retirement system. I am in the CSRS retirement system and have seen first hand what happens to our funds as soon as Congress gets their hands on them. With the 7-percent that was taken out of everybodies paycheck from day one of the CSRS retirement system, at this point in time the CSRS would have been a very healthy retirement system EXCEPT Congress was able to get their grubby hands on it, stole from it for their own use, and destroyed it. The same for Social Security!!! Please, eveyone, tell congress to keep their thieving hands off of our retirement system.
Congress = ENRON
Admin Asst DA Fri Jul 25, 2008 10:41 AM
There goes our retirement. We might as well all take the tax hit, pull our money and invest it privately.
Please provide the names of the sponsors/committee members behind this legislation.
Speak Up
Analyst IRS Fri Jul 25, 2008 10:44 AM
Those who disagree with this proposal -- including me -- need to write our members of Congress. They need to hear in no uncertain terms that TSP was not created for their benefit in passing out favors to the lobbyists.
HR 6500
Adjudication Officer DHS Fri Jul 25, 2008 10:48 AM
Now comes a bill to "enhance the TSP" and it sounds oh so good. Then you get to the part about expanding investment options and the real reason for the bill becomes apparent. While this bill may have merit, its bad features outweight the good! But of course if anyone was expecting Congress to actually comeup with a bill to truly help the TSP, then they are the apparent victims of a massive lobotomy!
Ralph Smith's analysis is a timely piece of work that TSP investors need to read and then take action.
One wonders how this nation would be if we just let Congress meet once a year, pass needed legislation and then send them home and let them work in a real job.
TSP Rules Change
Retire/MSgt DOD Fri Jul 25, 2008 10:52 AM
Plain and simple, we can't allow it to happen. It may be old fashion but KISS (keep it simple stupid) still works. The less clutter and confusion one allows in the system creates a system were it is not as easy to hide misuse and cannot be taken advantage of as easiely.
Have I Got a Deal for you has always been a Red Flag phrase.
Changing TSP
Program Support Assistant DVA Fri Jul 25, 2008 10:53 AM
If it not broken - don't fix it. I believe there are more pressing issues in our country than spending time and MY money to BREAK a program that has worked well for those investors that use, and have used, this program. What about the homeless - the people who continue to collect Medicaid dollars when they could be working like the rest of us.
Say No to Congress
Director DoD Fri Jul 25, 2008 10:56 AM
Start writing your letters now my peer Feds. Once again, a good thing is getting hosed by a Congress fed by special interests. This provision might be fine if the FULL COST of the alternatives are paid ENTIRELY by those making the CHOICE to invest in other than the low cost index funds.
A precedent for low cost, effective retirement savings has been established with the TSP. Automatic enrollment is great. Roth option is great. Adding something that IMPOSES on all an additional cost on all to benefit those few who want to continue their day trading or increase their risk of exposure to actively managed funds is WRONG.
The TSP Board has been successful avoiding the politics and has done very well to establish a retirement program that is a valued benefit to Federal employees. Congress needs to step away from actions that will be the start the downfall of this program.
Write your letters now. Get vocal. Be dissonant. Raise heck.
Quietly Changing the TSP's Investment Philosophy
Retired Rural Development Manager USDA Rural Develoment Fri Jul 25, 2008 10:58 AM
GRRRRRRRR! I wondered how long it would take with the current economic crises for Congress to start looking at this pot of money and start massaging it's offerings to wheedle its way into what has been a solid retirement supplement. Once they start messing with it it won't be long before they will find some way to access it for the "public good" - etc.
I say get out of our personal savings for solutions of fairnes to women (by the way I am a woman). WAA WAA WAA - that life !
Further Roth vehciles are available to anyone who wants them and can qualify. NO need for something special for federal employees. If they want a Roth they can get one.
On all three counts I say leave it alone. There is sufficient diversity within it now.
If they pass this bill I will immediately withdraw (roll-over) all of my TSP funds! I know this is extreme, but I worked to hard to build the tsp account I have ( I am CSRS and all the funds in my tsp come from my pocket.)
TNX !
Federal Employee Unions Should Take Action
Retired DHS ICE Fri Jul 25, 2008 10:58 AM
First, why is Congress even thinking about our TSP at this time -- they need to be taking action on the energy and housing market crises. The whole lot of them need to be removed by voters. I hope all of the Federal Employee Unions will join together to get this legislation shredded.
HR 6500
RN, retired Dept of Vet. Affairs Fri Jul 25, 2008 11:00 AM
Very strange that after all the hoopla about the costs of we investors moving our money about within the funds, it is now proposed to remove much more than that to handout to the politicians & their cronies. My understanding is that they have been `borrowing' from the TSP since nearly its inception. What gives the politicians the right to pilfer funds belonging to the rest of the government employees for the benefit of non-government workers? This is worse than sick - should be an impeachable charge!!!
tsp
poor peon usda Fri Jul 25, 2008 11:01 AM
Okay, we are all upset about these changes to tsp. have you read the other article yet? they want to use our tsp to balance budget so indians do not have to pay taxes on tabacco. at least that is what i think they are trying to do. all i know is they want to raid our money to balance the government check book. i would like to be able to balance my check book if i make it long enough to retire and there is anything left in tsp.
Expanding TSP Options
Senior Analyst Navy Fri Jul 25, 2008 11:03 AM
The proposal might not be so bad, depending on how it is implemented. If a new "fund" choice is offered to TSP participants, and its costs are charged against its results, then the rest of us are insulated and nothing bad happens. On the other hand, if new a new fund choice's costs are absorbed across all participants, then we all lose a little. Worst still would be for the TSP Board to take the C-Fund contributions and allocate them among a group of new C-Fund "managers" (minority and women run firms, presumably) thereby increasing the overall costs to the C-Fund, then we all lose even more. The devil is always in the details, not to mention how the TSP Board might "choose" which new firms to include in the C, S, and I funds' new and expanded managment group. Recommendations from Congress? Ya think?
Re: Expanding TSP Options
Retired DoC Fri Jul 25, 2008 9:56 PM
Don't give it a second thought. With a Congress full of politicians, it will be implemented in the worst possible way for the Federal employee. Just look at the FERS system!
Also look at the Windfall and Offset "means testing" provisions of the "revised" Social Security law. Even if it were implemented, initially, in a "not so bad" way, that wouldn't last very long in the grand scheme of things that Congress can get it's greedy fingers into.
Don't even THINK of trusting such professional charlatans!
TSP's Investment Philosophy
Contracting Officer DCMA Fri Jul 25, 2008 11:18 AM
If it ain't broke, don't fix it (or in this case, screw it up!)
TSP, like the Federal workforce, is an easy target.
I hope sanity prevails but have my doubts.
It would be intereting to see what the TSP particpants think about this. What about a survey and publishing the results?
Re: TSP's Investment Philosophy
UL Manager ICE Fri Jul 25, 2008 1:31 PM
The TSP process wasn't broken, but you asked the TSP board to "fix" it due to the very miniscule issues with "frequent traders." Well, you reap what you sow.
Please,please...
Brain User DHHS Fri Jul 25, 2008 11:28 AM
Before you buy into the reactionary baloney in this article, please consider that the proposal is intended to offer us more choices, not to "confuse" us, the idiot feds. The article fails to mention that the TSP is already open to a huge "financial interest group," namely Wells Fargo. It conveniently fails to mention Wells Fargo currently has exposure to $84 BILLION in home equity loan debt, a fact which it recently tried to coverup in an earnings report. Fellow feds, please seek out further information when planning for your futures and protecting your money. Mr. Smith, please give us a better balance of information - we deserve it!
tsp
attorney-advisor social security administration Fri Jul 25, 2008 11:28 AM
I've been aware of this for awhile and have gloomily contemplated the possibility of having to yank my TSP funds to preclude them vanishing in a Congressionally sponsored Enron fiasco.
This is a very very bad idea for us, though I can see why the people with political power slaver at the thought of using our retirement savings to add to their own political capital.
Do not pass H.R. 6500
Helium Payment Technician BLM Fri Jul 25, 2008 11:36 AM
I do not want any politician nor outside investment agencies/firms to have access to the TSP program. I believe that if politicians and outside firms have access to the TSP program, they will corrupt it. Once they have corrupted the program, all the small investors will lose what we have in there.
Cost of the Changes
HR Specialist DOI Fri Jul 25, 2008 11:52 AM
For those reading this article who are concerned about additional costs for we who stay with our current set of index funds - the proposed bill (see the url that Mr. Smith provides at the start of the 2nd paragraph) includes this language -
`Sec 4 (b) 5 (C) The Board shall ensure that any administrative expenses related to self-directed investment options are borne solely by the participants who use such options.
This seems to defray the concerns Mr. Smith raises about additional expenses. As long as that is included in the legislation - the Congress seems to be providing some legitimate new options - that will not hurt those of us who choose not to use them.
Thanks for the Article
H.R. 6500 and my TSP
Asst CDC Director USAF Fri Jul 25, 2008 11:58 AM
Having worked with the DOD for 23 years and invested in TSP since 1988 I am worried that with the current state of the economy and nearing retirement Congress is going to mess with the only true benefit federal employees still have. The appraisal system has gone from not so bad to totally bad and the cutbacks on staffing in certain areas gives some individuals double workloads. Leave TSP only Congress
TSP Options
GS-14 Retired DHS USCG Fri Jul 25, 2008 12:09 PM
I'm retired and no longer participating in the TSP, however I still follow the news. Upon retirement I moved all my holdings out of the TSP for personnel convenience. I had participated in the TSP since it's inception. Through all the years, the TSP provided excellent returns. One of the things that always concerned me about the plan was the amount of money sitting there, and the fact that politicians would see a big pot they could use for pet projects. Although I don't have a vested interest it just angers me that these d*** politicians want to spend other peoples money. They are so busy pandering to special interests, be they financial, greenies etc. nothing is getting done. Anyhow, sorry to digress, TSP was good to me, don't let them get involved. Sorry they probably won't see most of your comments, but they wouldn't listen anyhow.
Contact Info
HR Specialist Air Force Fri Jul 25, 2008 12:11 PM
Who do the TSP investors need to contact to say HELL NO to this bill? Are there are any sponsors? Sounds like we need to send mass emails and phone calls to the Congress people responsible for this madness.
TSP Program
Program Specialist FDA Fri Jul 25, 2008 12:20 PM
So, what do we do to keep this bill from getting passed? Frankly, I am sick and tired of Congress telling federal employees what, why, how, when, and where to put our money, time and energy. If it ain't broke, don't fix it! Congress has gone far enough. It's about time we tell them to get off our backs. We have balanced the federal deficit for far too long. We've gone through Bush's outsourcing agenda, small pay raises etc. When will enough be enough? When will federal employees take a stand?
H.R.6500
Technician DoD Fri Jul 25, 2008 12:28 PM
I would be fine with everything except the last option. Just because the fund is run by women or minorites, doesn't mean it will stay that way. This will be a way for all these funds to get in and take our money and leave us with a smaller return. I don't like it.
A Simple Answer
A Fed Worker Social Security Admin Fri Jul 25, 2008 12:40 PM
If the drive is to allow everyone to handle MY retirement money, then my plan is quite simple - I will remove every last cent from TSP and invest it else where.
Sorry, I do not feel comfortable with just anyone handling my retirement fund because they are a minority or a woman or a martian.
I DO NOT want elected officals like Dodd and Schumer to have their greedy money grubbing hands on my money - it will only be used to benefit their friends. And yes, the extra added government kicker is not enough for me to maintain a TSP account.
TSP Last Newsletter
Lands USFS Fri Jul 25, 2008 12:48 PM
Thought I did not have time to read the entire newletter that came with the 1/4 Stmt., I did note that the content was on WHY TO STAY WITH THE TSP..... funny the two should be happening in tandem. We now know why not to stay with TSP if the changes are implemented as propsed and the fund starts to suck our $ off the top.
TSP
Budget Analyst Garrison Fri Jul 25, 2008 12:50 PM
Congress should be using TSP as a model to develop a similar program for non-government employees. Instead they want to "improve" TSP for the employees. The last time Congress tried to help, we ended up with social security and look how well that program is doing.
What Can We Do?
Eng Tech SPAWARSYSCEN Fri Jul 25, 2008 12:50 PM
Should we write our congressmen or what do you suggest? May not do any good but we in TSP should voice our opinion! It is OUR money they are jeopardizing!
As long as everyone keeps voting sitting politicians back into office, what do you expect? The majority has a collective mind that "their Congressman" is great, therefor, they vote them back in. What we need to do, is vote everyone out of office--and keep voting this way--until the men/women we want to represent us, get it right!
Re: TSP Investment Philosophy
Patient caretaker VA Fri Jul 25, 2008 2:50 PM
Disagreed - if I like what my own Congressman is doing in office, why would I want to vote him out? Let the voters in other districts who've voted for bad politicians throw their own rascals out! I don't want anyone outside my own community to dictate to me who I should & shouldn't vote for.
No on H.R. 6500
Attorney CBP Fri Jul 25, 2008 1:11 PM
Every federal employee needs to write or call their Representative to urge him or her to vote NO on H.R. 6500.
You asked for it!
UL Manager ICE Fri Jul 25, 2008 1:16 PM
This is what you get when you start letting others get their fingers in our retirement pie.
We saw major problems on the horizen when the TSP board recently decided to disallow unlimited movement of our own money. Oh, you were all on board because it was "the best thing for all of us."
Well, now the politicians smell blood and beleive you me, they're gonna get it.
When you stop investors from deciding where their own money goes you open doors to these predators.
The next thing you know they'll be trying to attach our TSP earning to a tobacco company bail-out. Wait, that's already happening.
I hate to say I told ya so, but...
TSP
Numbers Guru VHA California Fri Jul 25, 2008 1:24 PM
THIS IS WRONG, WRONG, WRONG!!!!
I do NOT want MY TSP tampered with so the very richest Americans can line their pockets yet again!!!!
Do we get to vote on this tampering with OUR money or is it one of those clever "add-ons" to another bill that so that when it passes we're stuck????
Wake up my fellow government employees and vote EVERYONE currently in office out.....NOW...! We pay their salaries, their insurance and all of their "extra amenities", along with their Social Security, let's get rid of them and replace them with officials who will actually work for US, OUR children and OUR grandchildren!!!
HR 6500
Gen Engineer DA Fri Jul 25, 2008 1:48 PM
You should add a link to pages like this so Fed/Govm't employees could contact their congressmen and make their position known.
Leave the TSP alone! It is doing just fine the way it is! Why do "outside" groups have any say in our TSP. Let the investors make the decisions of their investment vehicle. The TSP Board is doing a fine job. Don't fix something that is not broken. HANDS OFF!!!!
Here we go again! First our GEHB and now our TSP. It's obvious that "financial interest groups" don't care about the thousands of people this bill will effect. The people who work hard for their dollars to provide a decent life for their families. We have taken the effort to build a system that works for us, why don't they just do the same thing? Everyday we read in the papers and on the internet of the corruption in government and it this is just one more nail in our coffin. It has just got to stop! We need to standup and fight this bill. Write your Congressman/woman and let them know how you feel about this theft of our hard earned savings.
We who oppose this legislation should write Mr. WAXMAN of California, Mr. TOM DAVIS of Virginia, and Mr. DAVIS of Illinois to voice our opposition, especially constituents of these congressmen.
H.R. 6500/What We Can do
Retired Manager HHS Fri Jul 25, 2008 2:46 PM
To all of those who wonder what we can do to defeat, or at least amend, this bill to eliminate its most noxious and disingenuous piece, WRITE and CALL your Congressman. Mine is Nancy Pelosi and I have already done so. You can send a simple e-mail to your Representative (and copy to Pelosi) referencing this article and its comments and stating your opposition to the bill. I urge you to do it now!
Where to write/call
Thorn in the Side DOD Fri Jul 25, 2008 2:47 PM
I printed the articles and looked at the links.
The first place to go is to your lcoal Representative and senators. You can get the contact information from the newpaper or phone book; they have websites as well.
House of Representatives - HR 6500 (Feast for Vultures) and HR 1108 (Make Feds Pay for Others' Habits) - The people behind this cr@p are Henry Waxman (CA) (Et tu, Brute!), Charles Rangell (NY), and Nick Rahall (WV). I believe Lieberman has a finger in the pie, and Jim McCrery (LA) seems to be involved as well.
Senate - S625 is a "companion measure. I haven't read it yet or seen anything about its contents, but it can't be good. This one is by Edward Kennedy (MA).
A site called "Thomas" gives printable versions of these bills.
G** damn the '80s and the greedy pigs that came out if it!
Re: Where to write/call
Thorn in the Side DOD Fri Jul 25, 2008 5:50 PM
Addendum: I may have done Lieberman a disservice. When I said that I thought he might be involved, I was looking at a list of names. The list, as it turns out, pertained to something else. So he may be involved, but he may not be.
I think we should keep track of who votes for this and work to defeat them in the next elections, wherever they are.
TSP
Diversity Manager DOL Fri Jul 25, 2008 3:44 PM
The changes to TSP are long over due. We need a more diverse supplier base to make these investments. The goal should be
. 20% managed by black investment firms
.15% hispanis
.60% women
This will reflect the current workforce mix in Fed Government. Who else is best able to wheater a down turn than us Fed employees while these investemnt firms learn the ropes. We already have a define pension and we should be willing to allow them to learn even if its at our expense
Re: TSP
Counselor BOP Fri Jul 25, 2008 5:09 PM
ARE YOU NUTS? Leave my TSP alone! The problem with Government is diversity and all of the worthless programs.
Re: TSP
A Fed Worker Social Security Admin Sat Jul 26, 2008 9:59 AM
BOP - I think you missed the sarcasm of the statement
Re: TSP
Engineer DOD Mon Jul 28, 2008 3:33 PM
I'm not so sure that someone who doesn't know the difference between a decimal and a percentage and can't spell "weather" and "Hispanic" correctly is capable of the subtlety required for sarcasm. I think the Diversity Manager was dead serious.
Re: TSP
Specialist USDA Tue Aug 12, 2008 9:58 AM
Diversity Manager - are you getting ready to run for office? You will fit right in - sarcasm or not, your intelligence is leaking
Thieves
Keep Screwing Us Forest Service Fri Jul 25, 2008 5:23 PM
Bunch of thieves working in Washington.
Big Money, Big Politics
EE SPAWAR Pacific Fri Jul 25, 2008 5:35 PM
Well, what do you know? Our tidy little change has grown to the point where it is attracting attention. The TSP Board must know that politics and money go together like flowers and bees. The bigger the change, the more political pressure will be exerted. Eventually, they will have to give in, unless maybe we investors (I mean ALL OF US) put pressure on Congress to keep their paws off.
Already lining up
Gphill DHS Fri Jul 25, 2008 7:09 PM
I feel that this is currupt another idea from a mislead political enviroment that is geared towards self greed. TSP investors work hard to develop their Retriement programs and place countless hours reading investment articles best to suit their goals.
I also, feel that Congress has no right to change any one rule without each person having a say of vote for that matter in his or hers investment portifilo. This is not a choice for Congress to deside, it is a form of infringment upon the rights of persons or person that has a private investment. Enron here we goagain. Mismanagement at highest level.
We can't let this happen!
Lead Hydrologist BLM Fri Jul 25, 2008 9:06 PM
How is it possible for individuals or special interest groups to meddle in our financial future. If this proceeds as planned lets move towards federal employees being able to take their contributions from TSP and invest them into other non-federal accounts that they wish to invest in. Why does someone have to quit the federal government to roll-over their life savings?
Mad Mike
TSP
IT Specialist USDA Fri Jul 25, 2008 10:33 PM
They need to keep their hands off the TSP! One of the very first articles I ever read about Bush was in Harper's magazine discussing his reign in Texas, about how he "privatized" the Texas teachers retirement fund (read - turned it over to his buddies) and literally destroyed the best retirement fund in the country. Obviously things haven't gotten any better. Leave my retirement alone!! keep it away from Congress and definitely away from the last hurrah of this administration.
The people we vote for are just a reflection of us
Engineer IMKOM-K Sat Jul 26, 2008 2:07 AM
Political greed guised under political correctness. Most if not all US citiziens have been to complacent for too long about the running of our government. When are we going to stand up, unite, and get all these nasty lawyers out of congress. Why don't we get more doctors, engineers, teachers, farmers, andsmall buisness owners in there. Just anybody who really wants to commit to public service and make a difference in our country. I am so disgusted with Democrats and Republicans alike. Both parties have thier agendas but it doesn't really seem to be the best interest of the citizens of this country. It seems we are taken under by smooth talkers ,charmers, and charlatans rather than substance. Until the general character of America changes, we will keep electing politicians who reflect our charachter and morality. Lets all start being concerned about who is running our country. Even if we have to go to Washington DC to look in thier faces and ask them "why are you really here"?
The Ones to Watch
Special Agent DOJ Sat Jul 26, 2008 1:59 PM
HR 6500 was introduced by Representative Henry Waxman (D-Cal), and sponsored by Danny Davis (D-IL) and Tom Davis (R-VA). The bill recently cleared the committee and will be moving to the floor for discussion. The changes proposed in the bill will allow private funds to mismanage our retirements like they have so many in the private sector. Don't think for a minute this bill will benefit federal employees or their retirements. It will open the door to additional congressional meddling and private sector greed. Tell everyone you work with about this bill.
TSP Changes
Registered Nurse VHA Sat Jul 26, 2008 6:27 PM
I am definitely NOT in favor of the TSP being opened up to financial interest groups who would benefit, along with the politicians, at our expense. JUST SAY NO!!
TSP
Gov Worker DoD Sat Jul 26, 2008 6:44 PM
If this happens will they allow those of us whom want to stay the current
course in the TSP under Barclay's superb management stay as is, or will we be forced to subsidize a the folly of the greedy electorate. As a public servant we endure large amounts of abuse as a general body for the sins of the few. We cannot capitulate to these individuals in cowardly fear, where is our union leadership?
Re: TSP
Engineer DOD Mon Jul 28, 2008 3:44 PM
Excellent question. I know from reading the comments made about other FedSmith articles that the union goons read this site and offer comments whenever something threatens their empire, so where are they now that we need them? Could it be that they're in bed with the crooks behind this legislation? I read thirteen pages of comments and found not a single one from anyone identifying himself as a union official, and I haven't read anything anywhere else about any federal union taking a position on this horrible bill. Their silence says it all.
Re: TSP
Thorn in the Side DOD Wed Jul 30, 2008 11:08 AM
Engineer, DOD - I am a union official. I have two items posted under this subject. I am trying to start a move to keep track of those who vote in favor of this bill, and actively campaign to defeat those people in their next elections.
More greedy hands in the pot
CONSUMER SAFETY Inspector FSIS Sun Jul 27, 2008 12:09 AM
TSP is probably the best thing people hired after 1986 have and to open it up to political influence and oversite will ruin a good thing. Most politicians haven't got the qualifications to be a good representative say nothing about a good investment accountant, unless you are able to make a hundred thousand or so in cattle futures or what ever it was that Hillary made so much in. If they want to add something to TSP then what ever they do has to give a better return at a cheaper price. Guarantees are not easy to come by when dealing with Politicians and cheaper isn't in their vocabulary. Vote NO for the change to TSP and if they get it passed VOTE NO for them.
Mob Rules
Engineer IMCOM-K Sun Jul 27, 2008 12:45 AM
Its interesting to see how people can be presuaded with a few words from this message board. What I don't see is alot of critical thinkers here. When we were complaining about frequent traders, I think someone took notice. Lets evaulate really whats going on and get some hard earned facts before judging too quickly. I we don't take the time to self educate ourselves then we are just mindless sheep. Of course, I am not for anyone taking my hard earned retirement for thier own selfish greed but lets say if that happens, it would pale in comparssion to what happend with the so called "frequent trader" fiasco. - BE CAREFULL WHAT YOU WISH FOR!
New Changes in Washington
Engineer IMCOM-K Sun Jul 27, 2008 1:12 AM
I think its time for Americans to get thier country back from all those politician who have sold america to lobbyists and special interest groups.
Lets:
1. Eliminate profossional politicians (set term limits like the excecutive branch)
2. Eliminate lobbyist and special interest groups from Washington. These goups have raked us over the coals for far too long.
3. Take the money out of politics (this will give a fair playing field to a larger group of candidates who might want to actually do something good for America's interest). Basically, no private funding sources. Every candidate gets the same lump sum if they meet the critiria.
4. Change this to a truly democratic government. Most people don't know this but its actually a representative government.
5. I dont care if your black, blue, yellow, women ..lets get some good folks up there and remove the trash thats infesting Washington. Most people don't understand the rampant corruption that is prevalent in DC.
Lobbyists control Washington politics.
Engineer IMCOM-K Sun Jul 27, 2008 4:18 AM
Please read below how lobbyists have taken control of washington and its puppets. Lets stop this people!
WASHINGTON - Registered lobbyists have donated large amounts of money to Senator John McCain’s presidential campaign, even as he denounces their profession. But Democratic candidates for Congress have also raised prodigious sums from lobbyists, outdoing the Republicans, according to reports filed for the first time under a new ethics law.
Senator Barack Obama, the presumptive Democratic nominee for president, says he does not want money from lobbyists, but a few modest contributions have slipped through. Health care, education, environmental and human rights lobbyists have given to Mr. Obama.
In total, lobbyists and trade groups have reported giving about $10.4 million to presidential and Congressional candidates in the first half of this year.
Keep congress out of TSP
Carrier USPS Sun Jul 27, 2008 8:27 PM
Keep congress out of tsp.
HR 6500
Audiovisual Engineer US Army Civilian Mon Jul 28, 2008 6:19 AM
Is this already approved or is it pending? . . . What can we do to keep the money grabbing blood suckers out of the TSP . . . Every time we get a break the leaches come along and suck us dry . . . Oh what a life . . .
Congress' manipulation of the TSP
QA Specialist DOD Mon Jul 28, 2008 6:33 AM
Again a Democratic controlled Congress wants to take our money and make another entitlement program so their cohorts and themselves can benefit from it. To all those federal employees who are contributing to TSP contact your Federal Congressmen and Senators and tell them to leave their paws off of our 401K.
While it is admirable for them to help others let our dear Congressmen and Senators start a new one that their buddies can run so that those they say they want to help can contribute.
Don't forget the proposed real estate fund
Instructor Dept. of Navy Mon Jul 28, 2008 6:55 AM
Was a time not too long ago when the politicians thought a TSP real estate fund was needed. Glad they weren't successful or most of us would now be broke!
Please Congress, don't let the politicians touch our TSP. If it's not broke don't fix it. This is our future you're messing with. Keep the politicians away from our retirement funds.
Bill HR 6500
Nurse Supervisor, Cardiology/Cardiac Cath Lab VA Medical Center Mon Jul 28, 2008 8:13 AM
The first 2 options of this bill are good, sound moves. The 3rd piece of this bill now makes this a chunk of money that Congress can decide to do whatever they want with it.
If Congress passes this bill I for one will move all my monies I currently have in TSP to another fund outside of the gov't and away from the hands of the greedy Congress members where I have no control or decision about my monies investment.
I will be writing all my congressmen/women to voice my opinion on the negatives of this bill and encourage the defeat of it. I hope that all other TSP members will also do the same.
Congress has messed up our Social Security funds by borrowing fromit back in the 1980's. By drawing money off of it with a promise to pay back with interest. This never happened. The lower grade level employee's with the government with not be able to retire with out having to take a another job to make ends meet in our retirement years. If they want to mess with our retirement (TSP) than they should be in the same retirement system that the rest of the government employees ( GS-4,5,6,7) are in. Civil Service retirement was so much better than what is offered to us today. "STAY OUT OF OUR TSP CONGRESS" Thats my vote also. Who do I write to about voting no on this one?
TSP
Contracting Officer USDA Forest Service Mon Jul 28, 2008 9:23 AM
I guess I am from the old school, KISS (keep it sipmple stupit, and keep the POLITICIANS out! We have the opprotunity to invest in those other options now, if we choose. It sounds like the first step of tuning it into government control. Thats the LAST this we need.
No!!!: HR 6500
Social Insurance Specialist Social Security Administration Mon Jul 28, 2008 9:34 AM
I do not want special interest groups having an influence in my TSP investments nor do I want to open the door to have my investments politically controlled. With HR 6500 is appears that I will have less control over the expenses/choices although this is my own money. I do not want others controlling my retirement!
I do not want HR 6500.
Please stop this immediately.
Yes to more fund options, no to politics
Attorney small agency Mon Jul 28, 2008 10:09 AM
As long as the cost of each fund is paid by the participants in that fund, there is no harm in having additional investment options. While all the stock funds have been taking a beating, wouldn't it have been nice to have some of your TSP invested in a precious metals fund, most of which have shown 25% and better returns over the past year. The thought that federal employees need simple investment vehicles with limited choices is an insult to our intelligence. It is also, however, an insult to our service to the nation to use our retirement fund for political purposes. Authorize additional funds, but let the professionals at TSP pick the managers -- without regard to politics in any form.
H.R. 6500
Librarian and Group Secretary Bureau of Reclamation Mon Jul 28, 2008 10:43 AM
Can't these greedy B......s be kept away from our retirement funds! The same people who brought us the sub-prime loan fiasco are at it again. How do we stop this!!!
Concerned - hardworking Fed.
TSP Doesn't Need Congressional HELP
Energy Services Dept of Energy Mon Jul 28, 2008 10:57 AM
It is ironic that Congress pays so much attention to a program that doesn't need their help. I must have missed the news that they've fixed Social Security, Health Care and the Energy Crisis. TSP members need to be consulted prior to any additional changes. When it comes to TSP - the only "special interest" should be the interest of the investors not the perspective vultures trying to benefit from a well run investment program. Like Nancy Regan once said "Just Say No" to Congress..
Re: TSP Doesn't Need Congressional HELP
Retired Manager HHS Mon Jul 28, 2008 10:36 PM
The TSP has become the new "IRAQ" for corporate greed, given full flight under the current Administration. Having said that, I was stunned to learn that two Democratic Congressmen were co-sponsors of this sorry bill. I will now add their names to my list of whom I will write to & call about this bill. Please--if you don't want this bill to pass, write & call your Congressman, the Bill's sponsors, and Pelosi. Writing to FedSmith is not enough.
Do not Change the TSP Program
Letter Carrier United States Postal Service Mon Jul 28, 2008 12:47 PM
I think it would be wrong to pass bill H.R. 6500 which would change the philosophy of the TSP program. Earlier in 2008 the TSP board was strongly against anyone changing their allocations between the fund choices too many times in a month because it had a negative impact on the rest of the participants in the plan. Yet now, the TSP administrators and Congress think it's alright to make changes by inacting HR 6500 which will cost everyone in the plan more money to administer and change a low cost plan to have highter fees which will lower returns for investors while making the TSP harder to manage and give corporate investment companies an opening to get their greedy hands on the hard working government employees retirement money.
Options
Investigative Aide I R S Mon Jul 28, 2008 4:04 PM
I sold Mutual Funds and retirement plans prior to my government service. SIMPLICITY is the keynote of a good plan. Pick a FEW good funds and run with them. That will make for steady gains. TSP does NOT need more meddling or advice. There are other things that Congress can fix.
If these Yahoos take over, I will take my money and vamoose. That's all folks!
As an employee that only works for the agency 6 months out of the year, I really want to be confident that the money I'm saving in TSP is going to give me stable returns. I am a woman and definitely want there to be a diverse group of companies that we are investing in, but my bottom line is still very important. With the recession right now, we really shouldn't be messing with what seems to be a very good program.
H.R. 6500
bulletts retired Mon Jul 28, 2008 7:01 PM
they can't wait to get their hands into the tsp for gov't. workers. the tsp is working fine, why don't they just leave it alone. i say no to h.r. 6500, keep the politicians out of the tsp. it's our future they are trying to destroy.
more fund choices
Port Director U.S. Customs & Border Protection Tue Jul 29, 2008 3:54 PM
All we have to do is remember how lobbyists were pushing for a REIT (real estate) fund in the TSP just as the real estate bubble was peaking. Anybody feel cheated at not having had a real estate investment available now?
TSP Changes H.R. 6500
Physical Scientist Dept. of Energy Wed Jul 30, 2008 9:07 AM
I oppose anything that affects the stability of the TSP. I don't think these changes benefit the contributors to the fund, but can clearly see where it stands to benefit a lot of extraneous people to the contributor's detriment.
illegal bill
typist vha Wed Jul 30, 2008 9:54 AM
Where is the FBI to prosecute these crooks to smooch a false bill through, under the table. Perhaps Stevens (R)
and Davis (D) should go to prison together along with Pelosi and Reid. Where is the justice department to stop this corruption? It would be interesting to see the financial reports of these companies and legislatures scratching each others backs.
Congressional Nit-Wits
Concerned Federal Employee DHS Wed Jul 30, 2008 9:23 PM
To all Federal Employees participating in the TSP / FedSmith Readers. I like alot of you are usually reserved with my comments however ENOUGH is ENOUGH. Who in their right MIND would even consider to dream up the idea to allow small business investment companys the opportunity to become involved in the main retirement fund for the hundreds of thousands of federal employees. Has anyone else heard that the lions share of small businesses fail within the first year. Does anyone else realize that the profits these companys will generate as well as their expenses will be coming out of the funds that you and I contribute. I believe that we the federal workforce as a political demographic should become organized to have campaign contributions eliminated from the entire political landscape of this country. These folks (and I will give them credit and say that they mostly go into office with good intentions) do nothing more than foster the corruption by lining their pockets at our expense.
Congressional Nit Wits II
Concerned Federal Employee DHS Wed Jul 30, 2008 10:47 PM
I would like to know if there is in fact someway to get a louder voice in congress. I hear that statement but I never see the results, lets hire a lobbyist equip them with barrells of money so we might at least get in line to be heard. I believe we either lack the necessary volume or we're talking to the deaf. Has there ever been a study to determine how much political strength there is in the federal workforce. It is obviously not well organized, I would think we would have the ability to at least be a reputable consideration when these "folks" come up with these type of nonsense proposals. Can anyone think of a good reason that if this is to become law why the congressional retirement program shouldn't be used as for the pilot for this legislation. I agree with what I have read on this issue, I will definetly exercise my vote in the next election as I can only hope the rest of the federal workforce will. Pelosi, Reid, & the rest of the Nit-Wit club understand you are now on notice.
Any reasonable form of "automatic" investment for new FERS employees would be an excellent way to create the retirement account most employees need.
H.R.6500's first step, G fund investment, or a lifestye investment that is dated close to the employees estimated retirement age, would give employees a better edge when retirement nears. Steps 2 and 3 will add complexity that most people do not want and will not use. They are simply the congress' way of pandering to special interest groups.
Every individual should write and call their representatives and tell them not to fix a system that is not broken.
TSP
Retired USPS Thu Jul 31, 2008 5:27 PM
Hands off my TSP. If you steal from me, you will dealt
with accordingly. Keep your grubby hands off my TSP.
William A. Fdfduran
Congress Screwing Up TSP Plan
IH Tech DoD Fri Aug 1, 2008 10:51 AM
It was only a matter of time. It seems Congress can`t resist the urge to screw things up. If they want to screw with a retirement plan , let them do it with theirs and leave the TSP plan alone. Personally, I`d like to see their retirement plan abolished and have term limits. There isn`t anything more dangerous than a "professional politician"!
It's My Money and My Choice, NOT YOURS!
Help Me Ralph - Tired of the Crap Readiness and Resources Fri Aug 1, 2008 11:25 AM
Please post for us the appropriate outlets for objection--letter addresses or websites as applicable.
When it comes down to it, if I don't like it, I'm GOING SOMEWHERE ELSE and right now, I don't like what I'm hearing!
Messing with the TSP
PROGRAM SPEC VHA Fri Aug 1, 2008 11:52 AM
How do we keep Congress from messing with our TSP before they screw that up like eveything else they get their fingers into? When they see $$$ to be made they just can't keep from helping themselves to it and putting it into their pockets. And then trying to hide what they are doing by acting like they care! When you have a good thing, just leave it alone!
HR 6500
Retired Congressional Staff Library of Congress Fri Aug 1, 2008 3:59 PM
Another example of Congress trying to fix something that isn't broke. I knew it was too good to be true that the TSP would be independent from politicians and lobbyists.
Leave our TSP alone
Auditor DCAA Mon Aug 4, 2008 7:15 AM
Congress needs to keep their dirty paws out of our TSP. (Sounds like someone in congress owes for political favors and is looking at our TSP to pay it back.)
Instead of trying to ruin our TSP they should concentrate on fixing Social Security, reducing the foreing debt, strengthening the dollar, reducing oil cost (which is tied to strengthening the dollar) and a number of other things.
Will we eventually loose our ability to choose?
Supply Tech GS-05 US Army Mon Aug 4, 2008 12:58 PM
I'm concerned in that once we allow these outside interests to get into our TSP program they will eventually be able to gain a controlling interest in our money. Make no bones about it, the lobby industry knows that time and money and paid for politicians move the ball into their court.
TSP
John B BOP Tue Aug 5, 2008 9:17 AM
Keep the fox out of the hen house and greedy money grubbers out of TSP.
No! to Politicians and Financial Investment Firms
Contract Administrator DCMA Ohio River Valley - Bratenahl Fri Aug 8, 2008 8:19 AM
Politicians and Financial Investment Firms have no right to Federal Workers Retirement funds. Each time a change is implemented from politics, it benefits those who approve the bill and not the workers. It's unfair and have no place in determining what is best for TSP participants. The decision to change what works best for the TSP participants should be made by all the TSP participants. We as TSP participants have not been given the right to have an opinion to Congress and the Politicians retirement program. Therefore, they should not have any right to ours and it should remain as is. It appears to be working just fine. Too many options are not practical, nor necessary.
TSP Fees
Operations Research Analyst Army Mon Sep 22, 2008 12:46 PM
Fees and commissions applicable to each fund should be identified to each fund for transfers, puhases, and sales. Transfers should be charged to the receiving fund individual account on a pro-rata basis.
Additional expenses
Operations Research Analyst Army Tue Nov 4, 2008 12:34 PM
Any increase in expenses including advisory fees for new funds and the management of those funds, should be charged to those funds.
Furthermore, any firm participating with TSP should be barred from contributing to a politician or political actvitity either directly or indirectly.
TSP HR 6500
P T FSA Fri Nov 7, 2008 7:14 AM
If it ain't broke, leave it alone.
tsp investment philosophy
fedworker interior Mon Nov 24, 2008 10:33 AM
Please, please, please, help us all. What should we do to keep congres, private industry, financial advisors to keep their grubby, sticky, dirty fingers out of the TSP?
Congeress should have no power on changes, they are just a bunch of self serving ego ridden greedy b....
Congress and TSP
Area Director USDA Rural Developoment Sat Feb 7, 2009 2:26 PM
This is an outrage. Congress is on its way to bankrupting the country as it is. The US Congress is so corrupt, it comes as no suprise they have set their insatiable appetite on our TSP. They have no right and certainly no competence in financial matters. This must be made public and they must be stopped before they send our retirements down the drain.
Carol Costanzo
Opposition to H. R. 6500
Retired Retired Sun Feb 8, 2009 11:15 AM
I totally agree with the previous comments! This must not pass! We all need to contact our congressmen and let them hear of our opposition to this bill. The wortst thing that could happen to the TSP is for Congress and the greedy ---------- on wall street and in the finance world to get more involved with management of the fund. Look at the fine mess these clowns have our economy in!
Keep the Politicians Out!
Investigative Support Technician Department of the Army Mon Feb 9, 2009 7:44 AM
The politicians need to STAY OUT OF TSP. We don't need another program screwed up by politics.
I will withdrawal everything if and when the politicians feel the need to put their sticky fingers in my future.
TSP and Politicians
Financial Counselor USAF Wed Feb 18, 2009 10:36 AM
Anytime you hear of a "change" look out! You are beginning to see what change is about to do. Any other financial orginizations who want to put their fingers in the pot will not be beneficial to anyone but the politicians and those offering various investment offers.
TSP
Mr Daniel Jacobs National Guard Wed Feb 18, 2009 11:01 AM
I just would like the ability to move my money more often as the situation rapidly changes. Keep the lobyists out of out TSP. Don't the politicians have enough of our tax money to waste on their special interests already? Sheesh!!
TSP
Engineer DCMA Wed Feb 18, 2009 12:52 PM
The TSP is set up for Federal Employees to help with the low retirement received after years of working for the Federal Government. To consider taking that away and using it for political gain is a sham. I for one will pull all of my money out and place it in an Index fund of my choice. I may pay a penalty for that but it beats what will happen down stream. There comes a time when the people should rise and show the politicans the money is ours and only ours and keep you hands out. If H.R. 6500 is changed to include the other than Indexed Funds I highly encourage all TSP members to pull their money and invest wisely some where else while you have the chance. We'll see how the politicans scramble for their share then. I'm retired and need that money. I've lost 45% of my TSP since the recession and I refuse to give what I have to the politicans, I'll pull it first and pay the taxes.
Thank you,
FDB
HR 6500
Transportation Regulations Specialist U.S. DOT Wed Feb 18, 2009 3:21 PM
If it ain't(sic) broke, don't fix it. This new legislative bill is obviously not good for TSP investors. What can we do to put a stop to Congressman who want to use other peoples money (TSP funds) to further their careers? I am going to call the offices of all of the Congressman in Maryland to protest, and will make sure that everyone I know in the Federal workforce knows about this.
Women are far from stupid; even we can see that references to minorities and women (I meet both categories) in this discussion is intended to cause some kind of bogus or false impression that Congress cares more about inclusion of said categories instead of politicians and interest groups trying to manipulate the investment options to benefit specific industries and financial interest.
Thanks for caring.
Retirement Funds
Logistics Management Specialist TACOM Tue Jun 23, 2009 10:20 AM
This is crazy! I'm very close to retirement and I'm worried that the money won't be there for me. I'm FERS so I have to worry about Social Security and Medicare being available and now Congress wants to dip into the TSP. I'm getting sick and tired of the "fat cats" robbing Peter to pay Paul. Let them dip into their retirement funds which I'm sure are a lot fatter than the average Civil Servants.
Withdrawal
procurement US Forest Service Tue Jun 23, 2009 11:03 AM
I have been a TSP contributor since 1988. I think it is time to move my funds to a safer place - away from the politicians who may borrow MY hard earned money to share with those who have not worked as hard over the last 20+ years.
Chang 101 and then some.
Interested Federal Employee DHS Tue Jun 23, 2009 2:22 PM
I hope the merchants of change that allowed the democratic party to move into political power are satisfied.
Maybe this will be a lesson learned for them "be careful what you ask for".
FEDSMITH Please survey your readership by whether they voted for or against Obama as to how they think his policies are working for them......
Expanded options available to TSP participants
Transportation Regulations Specialist U.S. DOT Thu Oct 8, 2009 9:40 AM
If its not broke, don't fix it. Feds funds do not need to be exposed to an open market or mutual fund just because financial institutions want a crack at this money. Congress should be ashamed of itself for even considering this. If you want to invest in mutual funds, etc., do it privately.
tsp
va
Fri Jul 25, 2008 7:35 AM
It is truly disheartening to see the lack of leadership of Congress. They TSP porgram works fine while inflation, gas prices, military conflicts and other challenges NEED to be addressed. Instead of facing up to its responsibilities, congress greedily follows the money and acts like a puppet to special interests. One need only look at the housing fiasco and the special treatment that Senator Dodd received from Countrytime to know that these folks are only in it to line their pockets. Cong. Rangel from NY is another example of using their office for personal gain. I am nearing the end of my federal tenure and truly am glad as I cannot continue to tolerate the incrediblly inept leadership of Reid and Pelosi.
Re: tsp
DoC
Fri Jul 25, 2008 9:35 PM
The article sums this up very well, "The ultimate losers are likely to be the TSP investors. The winners will be the politicians who will collect campaign contributions from those that want a share of the fees from the TSP and the companies that are successful in getting their fund or company to become part of the TSP program".
With Reid and Pelosi, and others like them in Congress, our TSP will be doomed if these changes are made. Call, write, or email your representatives today and let's see if we can defeat this crazy bill before it becomes law!
Re: tsp
DoD
Tue Jun 23, 2009 10:46 AM
The TSP Fund
IRS
Fri Jul 25, 2008 8:06 AM
Your article points out the adverse effects that H.R. 6500 will have on the participating government employees. I want to emphasize that making our retirement money a political football for the personal gain of politicians and resulting in a financial gain for their special interest groups at our expense is just ethically and morally wrong!!!
Are they also going to amend the Hatch Act so we can actively campaign against politicians who use our retirement money for personal gain at our expense? After all, fair is fair.
Re: The TSP Fund
Garrison
Fri Jul 25, 2008 12:38 PM
Are they also going to amend the Hatch Act so we can actively campaign against politicians who use our retirement money for personal gain at our expense? After all, fair is fair.
Re: The TSP Fund
USDA
Tue Aug 12, 2008 9:40 AM
Changing TSP Rules
Forest Service
Fri Jul 25, 2008 8:33 AM
Bad idea. The first and second change seem benign enough and do not seem to change the index fund nature of the TSP. The third change is the last thing we need. We all know what politicians do with money they think they can get away with. Why should feds have to be second class citizens even in private property - employees OWN their 401(k)s. Does Arkansas State Teachers Retirement Fund ring a bell with anyone?
Investment Philosophy
vha
Fri Jul 25, 2008 9:14 AM
Crooked politicians and crime on the streets.
Write Your Congressional Representative
USPS OIG
Fri Jul 25, 2008 9:49 AM
This is just plain wrong. Leave our retirement funds alone. I urge all Federal employees to write their congressional representatives and ask that they vote against this measure. If employees do want more choices in their retirement funds, there are alternative investments to the TSP. The TSP works fine, so leave it alone.
Changing the TSP
Defense Contract Management Agency
Fri Jul 25, 2008 10:11 AM
A simple philosophy, but nonetheless true, "If it ain't broke, don't fix it."
TSP Meddling
Energy
Fri Jul 25, 2008 10:12 AM
This is such a bad idea! How can we most effectively protest?
Typical...
DOI
Fri Jul 25, 2008 10:18 AM
...the TSP isn't broken, so of course, they want to "fix" it. I say not just "No!" but "Hell, NO!!!"
(sigh)
DOD
Fri Jul 25, 2008 10:19 AM
While 1 & 2 seem reasonable and benign, everything else is really scary. I think the reasonable changes are being offered to hide the scary ones.
A Roth is easy to do outside TSP. Lucky people who have enough to max out the amounts they can contribute to other plans.
Actively managed investments are a mistake in this kind of plan. Were the frequent traders stopped just to put frequent trading into the hands of invisible people beholden to Congress?
Quietly Changing the TSP's Investment Philosophy
HUD
Fri Jul 25, 2008 10:22 AM
Isn't that about like our leadership - always thinking of us, the worker-bees!! We have a very good TSP retirement fund and now they want to get their hands and those of their cronies on OUR money. Sounds a little like the "loans" from Social Security which have never been and likely will never be repaid.
We need to clean house!! Fire the likes of Mr. WAXMAN Mr. TOM DAVIS of Virginia, and Mr. DAVIS of Illinois.
Re: Quietly Changing the TSP's Investment Philosophy
Various
Mon Jul 28, 2008 4:05 PM
NO! NO!! NO!!!!
OCIO
Fri Jul 25, 2008 10:22 AM
Congress has no business messing with TSP!! If it ain't broke, don't fix it!!! Given the opportunity, Congress will screw it up just like they do everything else they touch!!!
Changing the TSP
Department of Justice
Fri Jul 25, 2008 10:24 AM
I worked for Qwest Communications for 26 years before the CEO book-cooked and ruined our 401K. The management fees there eat away at is what left of those who still have their money sitting in there. I beg of you, don't let this happen to our TSP. The Qwest funds are all garbage as far as I am concerned.
I have had to start over investing in a 401K. I was glad to enroll in the Federal Plan. Financial companies are out for themselves. Send this message to Congress. Maybe they want all of us on Medicaid when we can't work anymore. Changing the TSP is only good for greedy analysts and politicians and corporations. I have lived it, and I know.
Quietly Changing TSP Investment Philosophy
DoD
Fri Jul 25, 2008 10:24 AM
Is there a petition to sign or anything we can do to let it be known that we don't want this?
Would Like Some More Index Funds
Labor
Fri Jul 25, 2008 10:25 AM
The problem we have now with the C fund is that the SP500 is (or, maybe was) so dominated by the finance sector. That sector's poor performance has pulled down the entire index. I would like to see a few more funds that would compliment the C and S -- something broad
Expanding TSP choices
AoA
Fri Jul 25, 2008 10:26 AM
Your assessment is on point. I have invested in TSP from day one and the simplicity of selection and low cost has provided me with better than average returns. As a Federal employee, I do not want TSP to become a parallel to Wall Street. I am a minority and believe minority and women business should be given opportunity to compete, but I do not want to pay extra to provide them this opportunity. Now this my sound a lot like not in my back yard, but I have been a certified COR for more than thirty years and know a little about competition. Minorities and Women do not need additional help from a well meaning Congress. Leave TSP alone!
Changing rules
DOT
Fri Jul 25, 2008 10:28 AM
I like the second option, it would be nice to have a Roth as an option, I have plans to do so privately and heard about this and wanted to wait due to cost savings, but... if our reps include the third option, I'm outa here.
Makes Frequent Traders Look Like Choirboys
EPA
Fri Jul 25, 2008 10:29 AM
Comrads - if you think that the recent loss of $15.5M due to frequent traders was a waste of money; wait until you start paying for the follies contained in H.R. 6500. Our fund expenses will take off like the price of gasoline.
Re: Makes Frequent Traders Look Like Choirboys
ICE
Fri Jul 25, 2008 1:28 PM
Crooked Politicians
Farm Services Agency
Fri Jul 25, 2008 10:31 AM
Just when I thought those educated idiots in congress couldn't mess things up any worse, they stumble in to one of the only bright spots in Federal employment and start befouling that.
With their approval rating lower than a snakes belly you think they would be keeping a lower profile.
Run the country,you morons, and leave the little guys alone. Quit marking your territory, the smell is overwhelming. Worse than my neighbors dog,marking everything.
Waste of money...
DOI
Fri Jul 25, 2008 10:33 AM
Why is congress wasting tax payer money on trying to foul up a perfectly good retirement plan when they could be wasting it investigating sporting events and steroid use.
Changes to TSP
NARA
Fri Jul 25, 2008 10:33 AM
I want to comment but don't even know where to begin. This is so wrong and so sad for so many. What's wrong with these people?!
Thrift Saving Plan Changes
Various Federal Agencies
Fri Jul 25, 2008 10:36 AM
I believe that it was Warren Buffett who said that the average investor could simply put money into an index fund and not try to beat the market. That is what the thrift plan does. Congress want to change that to allow managed funds. Those seeking to do this are, of course, doing what they expect will personnel benefit them the most. So, who should be trust? Warren Buffett who is worth billions, or the Congess of the United States which is taking us into debt hundreds of billions of dollars each year.
TSP - Safe for how long?
VA
Fri Jul 25, 2008 10:36 AM
Quite scary. Politicans need to keep their hands off of our retirement. Makes me wish I could retire now, take my money and run.
Hands off
epa
Fri Jul 25, 2008 10:39 AM
i might just lose my lunch over this one. Nothing's sacred.
TSP Changes
VHA
Fri Jul 25, 2008 10:40 AM
Simply, please leave my retirement funds alone. I'd really like to have something to retire on rather than face having to work until I drop, and that should also be my choice.
It's bad enough that we now bail out the people who over extended themselves and can't pay their mortgages, banks that fudge criteria for loans and then cry for help. Where is the help the middle class people who have learned to count their pennies, all pennies being equal, and gone without to pay their mortgages for their modest home.
Do something about outrageous gas prices and speculators, health insurance costs, medications; let us have safe food to eat, and safe toys for our children to play with. Let us have our jobs back so we can support ourselves, not excessively, but comfortably, and
Leave our retirement alone.
Re: TSP Changes
BOR
Mon Jul 28, 2008 8:47 AM
Congress = ENRON
DA
Fri Jul 25, 2008 10:41 AM
There goes our retirement. We might as well all take the tax hit, pull our money and invest it privately.
Please provide the names of the sponsors/committee members behind this legislation.
Speak Up
IRS
Fri Jul 25, 2008 10:44 AM
Those who disagree with this proposal -- including me -- need to write our members of Congress. They need to hear in no uncertain terms that TSP was not created for their benefit in passing out favors to the lobbyists.
HR 6500
DHS
Fri Jul 25, 2008 10:48 AM
Now comes a bill to "enhance the TSP" and it sounds oh so good. Then you get to the part about expanding investment options and the real reason for the bill becomes apparent. While this bill may have merit, its bad features outweight the good! But of course if anyone was expecting Congress to actually comeup with a bill to truly help the TSP, then they are the apparent victims of a massive lobotomy!
Ralph Smith's analysis is a timely piece of work that TSP investors need to read and then take action.
One wonders how this nation would be if we just let Congress meet once a year, pass needed legislation and then send them home and let them work in a real job.
TSP Rules Change
DOD
Fri Jul 25, 2008 10:52 AM
Plain and simple, we can't allow it to happen. It may be old fashion but KISS (keep it simple stupid) still works. The less clutter and confusion one allows in the system creates a system were it is not as easy to hide misuse and cannot be taken advantage of as easiely.
Have I Got a Deal for you has always been a Red Flag phrase.
Changing TSP
DVA
Fri Jul 25, 2008 10:53 AM
If it not broken - don't fix it. I believe there are more pressing issues in our country than spending time and MY money to BREAK a program that has worked well for those investors that use, and have used, this program. What about the homeless - the people who continue to collect Medicaid dollars when they could be working like the rest of us.
Say No to Congress
DoD
Fri Jul 25, 2008 10:56 AM
Start writing your letters now my peer Feds. Once again, a good thing is getting hosed by a Congress fed by special interests. This provision might be fine if the FULL COST of the alternatives are paid ENTIRELY by those making the CHOICE to invest in other than the low cost index funds.
A precedent for low cost, effective retirement savings has been established with the TSP. Automatic enrollment is great. Roth option is great. Adding something that IMPOSES on all an additional cost on all to benefit those few who want to continue their day trading or increase their risk of exposure to actively managed funds is WRONG.
The TSP Board has been successful avoiding the politics and has done very well to establish a retirement program that is a valued benefit to Federal employees. Congress needs to step away from actions that will be the start the downfall of this program.
Write your letters now. Get vocal. Be dissonant. Raise heck.
Quietly Changing the TSP's Investment Philosophy
USDA Rural Develoment
Fri Jul 25, 2008 10:58 AM
GRRRRRRRR! I wondered how long it would take with the current economic crises for Congress to start looking at this pot of money and start massaging it's offerings to wheedle its way into what has been a solid retirement supplement. Once they start messing with it it won't be long before they will find some way to access it for the "public good" - etc.
I say get out of our personal savings for solutions of fairnes to women (by the way I am a woman). WAA WAA WAA - that life !
Further Roth vehciles are available to anyone who wants them and can qualify. NO need for something special for federal employees. If they want a Roth they can get one.
On all three counts I say leave it alone. There is sufficient diversity within it now.
If they pass this bill I will immediately withdraw (roll-over) all of my TSP funds! I know this is extreme, but I worked to hard to build the tsp account I have ( I am CSRS and all the funds in my tsp come from my pocket.)
TNX !
Federal Employee Unions Should Take Action
DHS ICE
Fri Jul 25, 2008 10:58 AM
First, why is Congress even thinking about our TSP at this time -- they need to be taking action on the energy and housing market crises. The whole lot of them need to be removed by voters. I hope all of the Federal Employee Unions will join together to get this legislation shredded.
HR 6500
Dept of Vet. Affairs
Fri Jul 25, 2008 11:00 AM
Very strange that after all the hoopla about the costs of we investors moving our money about within the funds, it is now proposed to remove much more than that to handout to the politicians & their cronies. My understanding is that they have been `borrowing' from the TSP since nearly its inception. What gives the politicians the right to pilfer funds belonging to the rest of the government employees for the benefit of non-government workers? This is worse than sick - should be an impeachable charge!!!
tsp
usda
Fri Jul 25, 2008 11:01 AM
Okay, we are all upset about these changes to tsp. have you read the other article yet? they want to use our tsp to balance budget so indians do not have to pay taxes on tabacco. at least that is what i think they are trying to do. all i know is they want to raid our money to balance the government check book. i would like to be able to balance my check book if i make it long enough to retire and there is anything left in tsp.
Expanding TSP Options
Navy
Fri Jul 25, 2008 11:03 AM
The proposal might not be so bad, depending on how it is implemented. If a new "fund" choice is offered to TSP participants, and its costs are charged against its results, then the rest of us are insulated and nothing bad happens. On the other hand, if new a new fund choice's costs are absorbed across all participants, then we all lose a little. Worst still would be for the TSP Board to take the C-Fund contributions and allocate them among a group of new C-Fund "managers" (minority and women run firms, presumably) thereby increasing the overall costs to the C-Fund, then we all lose even more. The devil is always in the details, not to mention how the TSP Board might "choose" which new firms to include in the C, S, and I funds' new and expanded managment group. Recommendations from Congress? Ya think?
Re: Expanding TSP Options
DoC
Fri Jul 25, 2008 9:56 PM
Also look at the Windfall and Offset "means testing" provisions of the "revised" Social Security law. Even if it were implemented, initially, in a "not so bad" way, that wouldn't last very long in the grand scheme of things that Congress can get it's greedy fingers into.
Don't even THINK of trusting such professional charlatans!
TSP's Investment Philosophy
DCMA
Fri Jul 25, 2008 11:18 AM
If it ain't broke, don't fix it (or in this case, screw it up!)
TSP, like the Federal workforce, is an easy target.
I hope sanity prevails but have my doubts.
It would be intereting to see what the TSP particpants think about this. What about a survey and publishing the results?
Re: TSP's Investment Philosophy
ICE
Fri Jul 25, 2008 1:31 PM
Please,please...
DHHS
Fri Jul 25, 2008 11:28 AM
Before you buy into the reactionary baloney in this article, please consider that the proposal is intended to offer us more choices, not to "confuse" us, the idiot feds. The article fails to mention that the TSP is already open to a huge "financial interest group," namely Wells Fargo. It conveniently fails to mention Wells Fargo currently has exposure to $84 BILLION in home equity loan debt, a fact which it recently tried to coverup in an earnings report. Fellow feds, please seek out further information when planning for your futures and protecting your money. Mr. Smith, please give us a better balance of information - we deserve it!
tsp
social security administration
Fri Jul 25, 2008 11:28 AM
I've been aware of this for awhile and have gloomily contemplated the possibility of having to yank my TSP funds to preclude them vanishing in a Congressionally sponsored Enron fiasco.
This is a very very bad idea for us, though I can see why the people with political power slaver at the thought of using our retirement savings to add to their own political capital.
Do not pass H.R. 6500
BLM
Fri Jul 25, 2008 11:36 AM
I do not want any politician nor outside investment agencies/firms to have access to the TSP program. I believe that if politicians and outside firms have access to the TSP program, they will corrupt it. Once they have corrupted the program, all the small investors will lose what we have in there.
Cost of the Changes
DOI
Fri Jul 25, 2008 11:52 AM
For those reading this article who are concerned about additional costs for we who stay with our current set of index funds - the proposed bill (see the url that Mr. Smith provides at the start of the 2nd paragraph) includes this language -
`Sec 4 (b) 5 (C) The Board shall ensure that any administrative expenses related to self-directed investment options are borne solely by the participants who use such options.
This seems to defray the concerns Mr. Smith raises about additional expenses. As long as that is included in the legislation - the Congress seems to be providing some legitimate new options - that will not hurt those of us who choose not to use them.
Thanks for the Article
H.R. 6500 and my TSP
USAF
Fri Jul 25, 2008 11:58 AM
Having worked with the DOD for 23 years and invested in TSP since 1988 I am worried that with the current state of the economy and nearing retirement Congress is going to mess with the only true benefit federal employees still have. The appraisal system has gone from not so bad to totally bad and the cutbacks on staffing in certain areas gives some individuals double workloads. Leave TSP only Congress
TSP Options
DHS USCG
Fri Jul 25, 2008 12:09 PM
I'm retired and no longer participating in the TSP, however I still follow the news. Upon retirement I moved all my holdings out of the TSP for personnel convenience. I had participated in the TSP since it's inception. Through all the years, the TSP provided excellent returns. One of the things that always concerned me about the plan was the amount of money sitting there, and the fact that politicians would see a big pot they could use for pet projects. Although I don't have a vested interest it just angers me that these d*** politicians want to spend other peoples money. They are so busy pandering to special interests, be they financial, greenies etc. nothing is getting done. Anyhow, sorry to digress, TSP was good to me, don't let them get involved. Sorry they probably won't see most of your comments, but they wouldn't listen anyhow.
Contact Info
Air Force
Fri Jul 25, 2008 12:11 PM
Who do the TSP investors need to contact to say HELL NO to this bill? Are there are any sponsors? Sounds like we need to send mass emails and phone calls to the Congress people responsible for this madness.
TSP Program
FDA
Fri Jul 25, 2008 12:20 PM
So, what do we do to keep this bill from getting passed? Frankly, I am sick and tired of Congress telling federal employees what, why, how, when, and where to put our money, time and energy. If it ain't broke, don't fix it! Congress has gone far enough. It's about time we tell them to get off our backs. We have balanced the federal deficit for far too long. We've gone through Bush's outsourcing agenda, small pay raises etc. When will enough be enough? When will federal employees take a stand?
H.R.6500
DoD
Fri Jul 25, 2008 12:28 PM
I would be fine with everything except the last option. Just because the fund is run by women or minorites, doesn't mean it will stay that way. This will be a way for all these funds to get in and take our money and leave us with a smaller return. I don't like it.
A Simple Answer
Social Security Admin
Fri Jul 25, 2008 12:40 PM
If the drive is to allow everyone to handle MY retirement money, then my plan is quite simple - I will remove every last cent from TSP and invest it else where.
Sorry, I do not feel comfortable with just anyone handling my retirement fund because they are a minority or a woman or a martian.
I DO NOT want elected officals like Dodd and Schumer to have their greedy money grubbing hands on my money - it will only be used to benefit their friends. And yes, the extra added government kicker is not enough for me to maintain a TSP account.
TSP Last Newsletter
USFS
Fri Jul 25, 2008 12:48 PM
Thought I did not have time to read the entire newletter that came with the 1/4 Stmt., I did note that the content was on WHY TO STAY WITH THE TSP..... funny the two should be happening in tandem. We now know why not to stay with TSP if the changes are implemented as propsed and the fund starts to suck our $ off the top.
TSP
Garrison
Fri Jul 25, 2008 12:50 PM
Congress should be using TSP as a model to develop a similar program for non-government employees. Instead they want to "improve" TSP for the employees. The last time Congress tried to help, we ended up with social security and look how well that program is doing.
What Can We Do?
SPAWARSYSCEN
Fri Jul 25, 2008 12:50 PM
Should we write our congressmen or what do you suggest? May not do any good but we in TSP should voice our opinion! It is OUR money they are jeopardizing!
TSP Investment Philosophy
Dept. of Veterans Affairs
Fri Jul 25, 2008 1:10 PM
As long as everyone keeps voting sitting politicians back into office, what do you expect? The majority has a collective mind that "their Congressman" is great, therefor, they vote them back in. What we need to do, is vote everyone out of office--and keep voting this way--until the men/women we want to represent us, get it right!
Re: TSP Investment Philosophy
VA
Fri Jul 25, 2008 2:50 PM
No on H.R. 6500
CBP
Fri Jul 25, 2008 1:11 PM
Every federal employee needs to write or call their Representative to urge him or her to vote NO on H.R. 6500.
You asked for it!
ICE
Fri Jul 25, 2008 1:16 PM
This is what you get when you start letting others get their fingers in our retirement pie.
We saw major problems on the horizen when the TSP board recently decided to disallow unlimited movement of our own money. Oh, you were all on board because it was "the best thing for all of us."
Well, now the politicians smell blood and beleive you me, they're gonna get it.
When you stop investors from deciding where their own money goes you open doors to these predators.
The next thing you know they'll be trying to attach our TSP earning to a tobacco company bail-out. Wait, that's already happening.
I hate to say I told ya so, but...
TSP
VHA California
Fri Jul 25, 2008 1:24 PM
THIS IS WRONG, WRONG, WRONG!!!!
I do NOT want MY TSP tampered with so the very richest Americans can line their pockets yet again!!!!
Do we get to vote on this tampering with OUR money or is it one of those clever "add-ons" to another bill that so that when it passes we're stuck????
Wake up my fellow government employees and vote EVERYONE currently in office out.....NOW...! We pay their salaries, their insurance and all of their "extra amenities", along with their Social Security, let's get rid of them and replace them with officials who will actually work for US, OUR children and OUR grandchildren!!!
HR 6500
DA
Fri Jul 25, 2008 1:48 PM
You should add a link to pages like this so Fed/Govm't employees could contact their congressmen and make their position known.
Quietly Changing the TSP's Investment Philosophy
DCMA
Fri Jul 25, 2008 1:50 PM
Leave the TSP alone! It is doing just fine the way it is! Why do "outside" groups have any say in our TSP. Let the investors make the decisions of their investment vehicle. The TSP Board is doing a fine job. Don't fix something that is not broken. HANDS OFF!!!!
HR 6500
USDA Forest Service
Fri Jul 25, 2008 2:03 PM
Here we go again! First our GEHB and now our TSP. It's obvious that "financial interest groups" don't care about the thousands of people this bill will effect. The people who work hard for their dollars to provide a decent life for their families. We have taken the effort to build a system that works for us, why don't they just do the same thing? Everyday we read in the papers and on the internet of the corruption in government and it this is just one more nail in our coffin. It has just got to stop! We need to standup and fight this bill. Write your Congressman/woman and let them know how you feel about this theft of our hard earned savings.
Thank you for keeping us informed.
CHANGING TSP
USCIS
Fri Jul 25, 2008 2:29 PM
We who oppose this legislation should write Mr. WAXMAN of California, Mr. TOM DAVIS of Virginia, and Mr. DAVIS of Illinois to voice our opposition, especially constituents of these congressmen.
H.R. 6500/What We Can do
HHS
Fri Jul 25, 2008 2:46 PM
To all of those who wonder what we can do to defeat, or at least amend, this bill to eliminate its most noxious and disingenuous piece, WRITE and CALL your Congressman. Mine is Nancy Pelosi and I have already done so. You can send a simple e-mail to your Representative (and copy to Pelosi) referencing this article and its comments and stating your opposition to the bill. I urge you to do it now!
Where to write/call
DOD
Fri Jul 25, 2008 2:47 PM
I printed the articles and looked at the links.
The first place to go is to your lcoal Representative and senators. You can get the contact information from the newpaper or phone book; they have websites as well.
House of Representatives - HR 6500 (Feast for Vultures) and HR 1108 (Make Feds Pay for Others' Habits) - The people behind this cr@p are Henry Waxman (CA) (Et tu, Brute!), Charles Rangell (NY), and Nick Rahall (WV). I believe Lieberman has a finger in the pie, and Jim McCrery (LA) seems to be involved as well.
Senate - S625 is a "companion measure. I haven't read it yet or seen anything about its contents, but it can't be good. This one is by Edward Kennedy (MA).
A site called "Thomas" gives printable versions of these bills.
G** damn the '80s and the greedy pigs that came out if it!
Re: Where to write/call
DOD
Fri Jul 25, 2008 5:50 PM
I think we should keep track of who votes for this and work to defeat them in the next elections, wherever they are.
TSP
DOL
Fri Jul 25, 2008 3:44 PM
The changes to TSP are long over due. We need a more diverse supplier base to make these investments. The goal should be
. 20% managed by black investment firms
.15% hispanis
.60% women
This will reflect the current workforce mix in Fed Government. Who else is best able to wheater a down turn than us Fed employees while these investemnt firms learn the ropes. We already have a define pension and we should be willing to allow them to learn even if its at our expense
Re: TSP
BOP
Fri Jul 25, 2008 5:09 PM
Re: TSP
Social Security Admin
Sat Jul 26, 2008 9:59 AM
Re: TSP
DOD
Mon Jul 28, 2008 3:33 PM
Re: TSP
USDA
Tue Aug 12, 2008 9:58 AM
Thieves
Forest Service
Fri Jul 25, 2008 5:23 PM
Bunch of thieves working in Washington.
Big Money, Big Politics
SPAWAR Pacific
Fri Jul 25, 2008 5:35 PM
Well, what do you know? Our tidy little change has grown to the point where it is attracting attention. The TSP Board must know that politics and money go together like flowers and bees. The bigger the change, the more political pressure will be exerted. Eventually, they will have to give in, unless maybe we investors (I mean ALL OF US) put pressure on Congress to keep their paws off.
Already lining up
DHS
Fri Jul 25, 2008 7:09 PM
I feel that this is currupt another idea from a mislead political enviroment that is geared towards self greed. TSP investors work hard to develop their Retriement programs and place countless hours reading investment articles best to suit their goals.
I also, feel that Congress has no right to change any one rule without each person having a say of vote for that matter in his or hers investment portifilo. This is not a choice for Congress to deside, it is a form of infringment upon the rights of persons or person that has a private investment. Enron here we goagain. Mismanagement at highest level.
We can't let this happen!
BLM
Fri Jul 25, 2008 9:06 PM
How is it possible for individuals or special interest groups to meddle in our financial future. If this proceeds as planned lets move towards federal employees being able to take their contributions from TSP and invest them into other non-federal accounts that they wish to invest in. Why does someone have to quit the federal government to roll-over their life savings?
Mad Mike
TSP
USDA
Fri Jul 25, 2008 10:33 PM
They need to keep their hands off the TSP! One of the very first articles I ever read about Bush was in Harper's magazine discussing his reign in Texas, about how he "privatized" the Texas teachers retirement fund (read - turned it over to his buddies) and literally destroyed the best retirement fund in the country. Obviously things haven't gotten any better. Leave my retirement alone!! keep it away from Congress and definitely away from the last hurrah of this administration.
The people we vote for are just a reflection of us
IMKOM-K
Sat Jul 26, 2008 2:07 AM
Political greed guised under political correctness. Most if not all US citiziens have been to complacent for too long about the running of our government. When are we going to stand up, unite, and get all these nasty lawyers out of congress. Why don't we get more doctors, engineers, teachers, farmers, andsmall buisness owners in there. Just anybody who really wants to commit to public service and make a difference in our country. I am so disgusted with Democrats and Republicans alike. Both parties have thier agendas but it doesn't really seem to be the best interest of the citizens of this country. It seems we are taken under by smooth talkers ,charmers, and charlatans rather than substance. Until the general character of America changes, we will keep electing politicians who reflect our charachter and morality. Lets all start being concerned about who is running our country. Even if we have to go to Washington DC to look in thier faces and ask them "why are you really here"?
The Ones to Watch
DOJ
Sat Jul 26, 2008 1:59 PM
HR 6500 was introduced by Representative Henry Waxman (D-Cal), and sponsored by Danny Davis (D-IL) and Tom Davis (R-VA). The bill recently cleared the committee and will be moving to the floor for discussion. The changes proposed in the bill will allow private funds to mismanage our retirements like they have so many in the private sector. Don't think for a minute this bill will benefit federal employees or their retirements. It will open the door to additional congressional meddling and private sector greed. Tell everyone you work with about this bill.
TSP Changes
VHA
Sat Jul 26, 2008 6:27 PM
I am definitely NOT in favor of the TSP being opened up to financial interest groups who would benefit, along with the politicians, at our expense. JUST SAY NO!!
TSP
DoD
Sat Jul 26, 2008 6:44 PM
If this happens will they allow those of us whom want to stay the current
course in the TSP under Barclay's superb management stay as is, or will we be forced to subsidize a the folly of the greedy electorate. As a public servant we endure large amounts of abuse as a general body for the sins of the few. We cannot capitulate to these individuals in cowardly fear, where is our union leadership?
Re: TSP
DOD
Mon Jul 28, 2008 3:44 PM
Re: TSP
DOD
Wed Jul 30, 2008 11:08 AM
More greedy hands in the pot
FSIS
Sun Jul 27, 2008 12:09 AM
TSP is probably the best thing people hired after 1986 have and to open it up to political influence and oversite will ruin a good thing. Most politicians haven't got the qualifications to be a good representative say nothing about a good investment accountant, unless you are able to make a hundred thousand or so in cattle futures or what ever it was that Hillary made so much in. If they want to add something to TSP then what ever they do has to give a better return at a cheaper price. Guarantees are not easy to come by when dealing with Politicians and cheaper isn't in their vocabulary. Vote NO for the change to TSP and if they get it passed VOTE NO for them.
Mob Rules
IMCOM-K
Sun Jul 27, 2008 12:45 AM
Its interesting to see how people can be presuaded with a few words from this message board. What I don't see is alot of critical thinkers here. When we were complaining about frequent traders, I think someone took notice. Lets evaulate really whats going on and get some hard earned facts before judging too quickly. I we don't take the time to self educate ourselves then we are just mindless sheep. Of course, I am not for anyone taking my hard earned retirement for thier own selfish greed but lets say if that happens, it would pale in comparssion to what happend with the so called "frequent trader" fiasco. - BE CAREFULL WHAT YOU WISH FOR!
New Changes in Washington
IMCOM-K
Sun Jul 27, 2008 1:12 AM
I think its time for Americans to get thier country back from all those politician who have sold america to lobbyists and special interest groups.
Lets:
1. Eliminate profossional politicians (set term limits like the excecutive branch)
2. Eliminate lobbyist and special interest groups from Washington. These goups have raked us over the coals for far too long.
3. Take the money out of politics (this will give a fair playing field to a larger group of candidates who might want to actually do something good for America's interest). Basically, no private funding sources. Every candidate gets the same lump sum if they meet the critiria.
4. Change this to a truly democratic government. Most people don't know this but its actually a representative government.
5. I dont care if your black, blue, yellow, women ..lets get some good folks up there and remove the trash thats infesting Washington. Most people don't understand the rampant corruption that is prevalent in DC.
Lobbyists control Washington politics.
IMCOM-K
Sun Jul 27, 2008 4:18 AM
Please read below how lobbyists have taken control of washington and its puppets. Lets stop this people!
WASHINGTON - Registered lobbyists have donated large amounts of money to Senator John McCain’s presidential campaign, even as he denounces their profession. But Democratic candidates for Congress have also raised prodigious sums from lobbyists, outdoing the Republicans, according to reports filed for the first time under a new ethics law.
Senator Barack Obama, the presumptive Democratic nominee for president, says he does not want money from lobbyists, but a few modest contributions have slipped through. Health care, education, environmental and human rights lobbyists have given to Mr. Obama.
In total, lobbyists and trade groups have reported giving about $10.4 million to presidential and Congressional candidates in the first half of this year.
Keep congress out of TSP
USPS
Sun Jul 27, 2008 8:27 PM
Keep congress out of tsp.
HR 6500
US Army Civilian
Mon Jul 28, 2008 6:19 AM
Is this already approved or is it pending? . . . What can we do to keep the money grabbing blood suckers out of the TSP . . . Every time we get a break the leaches come along and suck us dry . . . Oh what a life . . .
Congress' manipulation of the TSP
DOD
Mon Jul 28, 2008 6:33 AM
Again a Democratic controlled Congress wants to take our money and make another entitlement program so their cohorts and themselves can benefit from it. To all those federal employees who are contributing to TSP contact your Federal Congressmen and Senators and tell them to leave their paws off of our 401K.
While it is admirable for them to help others let our dear Congressmen and Senators start a new one that their buddies can run so that those they say they want to help can contribute.
Don't forget the proposed real estate fund
Dept. of Navy
Mon Jul 28, 2008 6:55 AM
Was a time not too long ago when the politicians thought a TSP real estate fund was needed. Glad they weren't successful or most of us would now be broke!
H.R> 6500 TSP
Genetal Services Administration
Mon Jul 28, 2008 7:37 AM
Please Congress, don't let the politicians touch our TSP. If it's not broke don't fix it. This is our future you're messing with. Keep the politicians away from our retirement funds.
Bill HR 6500
VA Medical Center
Mon Jul 28, 2008 8:13 AM
The first 2 options of this bill are good, sound moves. The 3rd piece of this bill now makes this a chunk of money that Congress can decide to do whatever they want with it.
If Congress passes this bill I for one will move all my monies I currently have in TSP to another fund outside of the gov't and away from the hands of the greedy Congress members where I have no control or decision about my monies investment.
I will be writing all my congressmen/women to voice my opinion on the negatives of this bill and encourage the defeat of it. I hope that all other TSP members will also do the same.
grubby hands
dod
Mon Jul 28, 2008 8:25 AM
Stay out of my retirement !
Defeat HR 6500
Changing the TPS investment
Forest Service, USDA
Mon Jul 28, 2008 8:35 AM
Congress has messed up our Social Security funds by borrowing fromit back in the 1980's. By drawing money off of it with a promise to pay back with interest. This never happened. The lower grade level employee's with the government with not be able to retire with out having to take a another job to make ends meet in our retirement years. If they want to mess with our retirement (TSP) than they should be in the same retirement system that the rest of the government employees ( GS-4,5,6,7) are in. Civil Service retirement was so much better than what is offered to us today. "STAY OUT OF OUR TSP CONGRESS" Thats my vote also. Who do I write to about voting no on this one?
TSP
USDA Forest Service
Mon Jul 28, 2008 9:23 AM
I guess I am from the old school, KISS (keep it sipmple stupit, and keep the POLITICIANS out! We have the opprotunity to invest in those other options now, if we choose. It sounds like the first step of tuning it into government control. Thats the LAST this we need.
No!!!: HR 6500
Social Security Administration
Mon Jul 28, 2008 9:34 AM
I do not want special interest groups having an influence in my TSP investments nor do I want to open the door to have my investments politically controlled. With HR 6500 is appears that I will have less control over the expenses/choices although this is my own money. I do not want others controlling my retirement!
I do not want HR 6500.
Please stop this immediately.
Yes to more fund options, no to politics
small agency
Mon Jul 28, 2008 10:09 AM
As long as the cost of each fund is paid by the participants in that fund, there is no harm in having additional investment options. While all the stock funds have been taking a beating, wouldn't it have been nice to have some of your TSP invested in a precious metals fund, most of which have shown 25% and better returns over the past year. The thought that federal employees need simple investment vehicles with limited choices is an insult to our intelligence. It is also, however, an insult to our service to the nation to use our retirement fund for political purposes. Authorize additional funds, but let the professionals at TSP pick the managers -- without regard to politics in any form.
H.R. 6500
Bureau of Reclamation
Mon Jul 28, 2008 10:43 AM
Can't these greedy B......s be kept away from our retirement funds! The same people who brought us the sub-prime loan fiasco are at it again. How do we stop this!!!
Concerned - hardworking Fed.
TSP Doesn't Need Congressional HELP
Dept of Energy
Mon Jul 28, 2008 10:57 AM
It is ironic that Congress pays so much attention to a program that doesn't need their help. I must have missed the news that they've fixed Social Security, Health Care and the Energy Crisis. TSP members need to be consulted prior to any additional changes. When it comes to TSP - the only "special interest" should be the interest of the investors not the perspective vultures trying to benefit from a well run investment program. Like Nancy Regan once said "Just Say No" to Congress..
Re: TSP Doesn't Need Congressional HELP
HHS
Mon Jul 28, 2008 10:36 PM
Do not Change the TSP Program
United States Postal Service
Mon Jul 28, 2008 12:47 PM
I think it would be wrong to pass bill H.R. 6500 which would change the philosophy of the TSP program. Earlier in 2008 the TSP board was strongly against anyone changing their allocations between the fund choices too many times in a month because it had a negative impact on the rest of the participants in the plan. Yet now, the TSP administrators and Congress think it's alright to make changes by inacting HR 6500 which will cost everyone in the plan more money to administer and change a low cost plan to have highter fees which will lower returns for investors while making the TSP harder to manage and give corporate investment companies an opening to get their greedy hands on the hard working government employees retirement money.
Options
I R S
Mon Jul 28, 2008 4:04 PM
I sold Mutual Funds and retirement plans prior to my government service. SIMPLICITY is the keynote of a good plan. Pick a FEW good funds and run with them. That will make for steady gains. TSP does NOT need more meddling or advice. There are other things that Congress can fix.
If these Yahoos take over, I will take my money and vamoose. That's all folks!
keep costs low
USDA-Forest Service
Mon Jul 28, 2008 6:38 PM
As an employee that only works for the agency 6 months out of the year, I really want to be confident that the money I'm saving in TSP is going to give me stable returns. I am a woman and definitely want there to be a diverse group of companies that we are investing in, but my bottom line is still very important. With the recession right now, we really shouldn't be messing with what seems to be a very good program.
H.R. 6500
retired
Mon Jul 28, 2008 7:01 PM
they can't wait to get their hands into the tsp for gov't. workers. the tsp is working fine, why don't they just leave it alone. i say no to h.r. 6500, keep the politicians out of the tsp. it's our future they are trying to destroy.
more fund choices
U.S. Customs & Border Protection
Tue Jul 29, 2008 3:54 PM
All we have to do is remember how lobbyists were pushing for a REIT (real estate) fund in the TSP just as the real estate bubble was peaking. Anybody feel cheated at not having had a real estate investment available now?
TSP Changes H.R. 6500
Dept. of Energy
Wed Jul 30, 2008 9:07 AM
I oppose anything that affects the stability of the TSP. I don't think these changes benefit the contributors to the fund, but can clearly see where it stands to benefit a lot of extraneous people to the contributor's detriment.
illegal bill
vha
Wed Jul 30, 2008 9:54 AM
Where is the FBI to prosecute these crooks to smooch a false bill through, under the table. Perhaps Stevens (R)
and Davis (D) should go to prison together along with Pelosi and Reid. Where is the justice department to stop this corruption? It would be interesting to see the financial reports of these companies and legislatures scratching each others backs.
Congressional Nit-Wits
DHS
Wed Jul 30, 2008 9:23 PM
To all Federal Employees participating in the TSP / FedSmith Readers. I like alot of you are usually reserved with my comments however ENOUGH is ENOUGH. Who in their right MIND would even consider to dream up the idea to allow small business investment companys the opportunity to become involved in the main retirement fund for the hundreds of thousands of federal employees. Has anyone else heard that the lions share of small businesses fail within the first year. Does anyone else realize that the profits these companys will generate as well as their expenses will be coming out of the funds that you and I contribute. I believe that we the federal workforce as a political demographic should become organized to have campaign contributions eliminated from the entire political landscape of this country. These folks (and I will give them credit and say that they mostly go into office with good intentions) do nothing more than foster the corruption by lining their pockets at our expense.
Congressional Nit Wits II
DHS
Wed Jul 30, 2008 10:47 PM
I would like to know if there is in fact someway to get a louder voice in congress. I hear that statement but I never see the results, lets hire a lobbyist equip them with barrells of money so we might at least get in line to be heard. I believe we either lack the necessary volume or we're talking to the deaf. Has there ever been a study to determine how much political strength there is in the federal workforce. It is obviously not well organized, I would think we would have the ability to at least be a reputable consideration when these "folks" come up with these type of nonsense proposals. Can anyone think of a good reason that if this is to become law why the congressional retirement program shouldn't be used as for the pilot for this legislation. I agree with what I have read on this issue, I will definetly exercise my vote in the next election as I can only hope the rest of the federal workforce will. Pelosi, Reid, & the rest of the Nit-Wit club understand you are now on notice.
TSP Investment Philosophy
Veterans Affairs
Thu Jul 31, 2008 2:20 PM
Any reasonable form of "automatic" investment for new FERS employees would be an excellent way to create the retirement account most employees need.
H.R.6500's first step, G fund investment, or a lifestye investment that is dated close to the employees estimated retirement age, would give employees a better edge when retirement nears. Steps 2 and 3 will add complexity that most people do not want and will not use. They are simply the congress' way of pandering to special interest groups.
Every individual should write and call their representatives and tell them not to fix a system that is not broken.
TSP
USPS
Thu Jul 31, 2008 5:27 PM
Hands off my TSP. If you steal from me, you will dealt
with accordingly. Keep your grubby hands off my TSP.
William A. Fdfduran
Congress Screwing Up TSP Plan
DoD
Fri Aug 1, 2008 10:51 AM
It was only a matter of time. It seems Congress can`t resist the urge to screw things up. If they want to screw with a retirement plan , let them do it with theirs and leave the TSP plan alone. Personally, I`d like to see their retirement plan abolished and have term limits. There isn`t anything more dangerous than a "professional politician"!
It's My Money and My Choice, NOT YOURS!
Readiness and Resources
Fri Aug 1, 2008 11:25 AM
Please post for us the appropriate outlets for objection--letter addresses or websites as applicable.
When it comes down to it, if I don't like it, I'm GOING SOMEWHERE ELSE and right now, I don't like what I'm hearing!
Messing with the TSP
VHA
Fri Aug 1, 2008 11:52 AM
How do we keep Congress from messing with our TSP before they screw that up like eveything else they get their fingers into? When they see $$$ to be made they just can't keep from helping themselves to it and putting it into their pockets. And then trying to hide what they are doing by acting like they care! When you have a good thing, just leave it alone!
HR 6500
Library of Congress
Fri Aug 1, 2008 3:59 PM
Another example of Congress trying to fix something that isn't broke. I knew it was too good to be true that the TSP would be independent from politicians and lobbyists.
Leave our TSP alone
DCAA
Mon Aug 4, 2008 7:15 AM
Congress needs to keep their dirty paws out of our TSP. (Sounds like someone in congress owes for political favors and is looking at our TSP to pay it back.)
Instead of trying to ruin our TSP they should concentrate on fixing Social Security, reducing the foreing debt, strengthening the dollar, reducing oil cost (which is tied to strengthening the dollar) and a number of other things.
Will we eventually loose our ability to choose?
US Army
Mon Aug 4, 2008 12:58 PM
I'm concerned in that once we allow these outside interests to get into our TSP program they will eventually be able to gain a controlling interest in our money. Make no bones about it, the lobby industry knows that time and money and paid for politicians move the ball into their court.
TSP
BOP
Tue Aug 5, 2008 9:17 AM
Keep the fox out of the hen house and greedy money grubbers out of TSP.
No! to Politicians and Financial Investment Firms
DCMA Ohio River Valley - Bratenahl
Fri Aug 8, 2008 8:19 AM
Politicians and Financial Investment Firms have no right to Federal Workers Retirement funds. Each time a change is implemented from politics, it benefits those who approve the bill and not the workers. It's unfair and have no place in determining what is best for TSP participants. The decision to change what works best for the TSP participants should be made by all the TSP participants. We as TSP participants have not been given the right to have an opinion to Congress and the Politicians retirement program. Therefore, they should not have any right to ours and it should remain as is. It appears to be working just fine. Too many options are not practical, nor necessary.
TSP Fees
Army
Mon Sep 22, 2008 12:46 PM
Fees and commissions applicable to each fund should be identified to each fund for transfers, puhases, and sales. Transfers should be charged to the receiving fund individual account on a pro-rata basis.
Additional expenses
Army
Tue Nov 4, 2008 12:34 PM
Any increase in expenses including advisory fees for new funds and the management of those funds, should be charged to those funds.
Furthermore, any firm participating with TSP should be barred from contributing to a politician or political actvitity either directly or indirectly.
TSP HR 6500
FSA
Fri Nov 7, 2008 7:14 AM
If it ain't broke, leave it alone.
tsp investment philosophy
interior
Mon Nov 24, 2008 10:33 AM
Please, please, please, help us all. What should we do to keep congres, private industry, financial advisors to keep their grubby, sticky, dirty fingers out of the TSP?
Congeress should have no power on changes, they are just a bunch of self serving ego ridden greedy b....
Congress and TSP
USDA Rural Developoment
Sat Feb 7, 2009 2:26 PM
This is an outrage. Congress is on its way to bankrupting the country as it is. The US Congress is so corrupt, it comes as no suprise they have set their insatiable appetite on our TSP. They have no right and certainly no competence in financial matters. This must be made public and they must be stopped before they send our retirements down the drain.
Carol Costanzo
Opposition to H. R. 6500
Retired
Sun Feb 8, 2009 11:15 AM
I totally agree with the previous comments! This must not pass! We all need to contact our congressmen and let them hear of our opposition to this bill. The wortst thing that could happen to the TSP is for Congress and the greedy ---------- on wall street and in the finance world to get more involved with management of the fund. Look at the fine mess these clowns have our economy in!
Keep the Politicians Out!
Department of the Army
Mon Feb 9, 2009 7:44 AM
The politicians need to STAY OUT OF TSP. We don't need another program screwed up by politics.
I will withdrawal everything if and when the politicians feel the need to put their sticky fingers in my future.
TSP and Politicians
USAF
Wed Feb 18, 2009 10:36 AM
Anytime you hear of a "change" look out! You are beginning to see what change is about to do. Any other financial orginizations who want to put their fingers in the pot will not be beneficial to anyone but the politicians and those offering various investment offers.
TSP
National Guard
Wed Feb 18, 2009 11:01 AM
I just would like the ability to move my money more often as the situation rapidly changes. Keep the lobyists out of out TSP. Don't the politicians have enough of our tax money to waste on their special interests already? Sheesh!!
TSP
DCMA
Wed Feb 18, 2009 12:52 PM
The TSP is set up for Federal Employees to help with the low retirement received after years of working for the Federal Government. To consider taking that away and using it for political gain is a sham. I for one will pull all of my money out and place it in an Index fund of my choice. I may pay a penalty for that but it beats what will happen down stream. There comes a time when the people should rise and show the politicans the money is ours and only ours and keep you hands out. If H.R. 6500 is changed to include the other than Indexed Funds I highly encourage all TSP members to pull their money and invest wisely some where else while you have the chance. We'll see how the politicans scramble for their share then. I'm retired and need that money. I've lost 45% of my TSP since the recession and I refuse to give what I have to the politicans, I'll pull it first and pay the taxes.
Thank you,
FDB
HR 6500
U.S. DOT
Wed Feb 18, 2009 3:21 PM
If it ain't(sic) broke, don't fix it. This new legislative bill is obviously not good for TSP investors. What can we do to put a stop to Congressman who want to use other peoples money (TSP funds) to further their careers? I am going to call the offices of all of the Congressman in Maryland to protest, and will make sure that everyone I know in the Federal workforce knows about this.
Women are far from stupid; even we can see that references to minorities and women (I meet both categories) in this discussion is intended to cause some kind of bogus or false impression that Congress cares more about inclusion of said categories instead of politicians and interest groups trying to manipulate the investment options to benefit specific industries and financial interest.
Thanks for caring.
Retirement Funds
TACOM
Tue Jun 23, 2009 10:20 AM
This is crazy! I'm very close to retirement and I'm worried that the money won't be there for me. I'm FERS so I have to worry about Social Security and Medicare being available and now Congress wants to dip into the TSP. I'm getting sick and tired of the "fat cats" robbing Peter to pay Paul. Let them dip into their retirement funds which I'm sure are a lot fatter than the average Civil Servants.
Withdrawal
US Forest Service
Tue Jun 23, 2009 11:03 AM
I have been a TSP contributor since 1988. I think it is time to move my funds to a safer place - away from the politicians who may borrow MY hard earned money to share with those who have not worked as hard over the last 20+ years.
Chang 101 and then some.
DHS
Tue Jun 23, 2009 2:22 PM
I hope the merchants of change that allowed the democratic party to move into political power are satisfied.
Maybe this will be a lesson learned for them "be careful what you ask for".
FEDSMITH Please survey your readership by whether they voted for or against Obama as to how they think his policies are working for them......
Expanded options available to TSP participants
U.S. DOT
Thu Oct 8, 2009 9:40 AM
If its not broke, don't fix it. Feds funds do not need to be exposed to an open market or mutual fund just because financial institutions want a crack at this money. Congress should be ashamed of itself for even considering this. If you want to invest in mutual funds, etc., do it privately.