TSP processing times?

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delamer
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TSP processing times?

Post by delamer »

My indirect rollover check just arrived at TSP (according to Priority Mail tracking) for processing.

If you have experience with rollovers into TSP or any other transactions with them that required similar handling of paper forms, about how long did you have to wait for the changes to appear in your account?
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
ChrisC
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Re: TSP processing times?

Post by ChrisC »

Around 10 business days in my case for a direct rollover into TSP from TRowe Price, which disbursed funds by paper check on Oct 19, 2020 by snail mail and the funds hit my TSP account on Nov 4, 2020.

Going the other way for a direct rollover/conversion in May 2021 from TSP to Well Fargo, it took around 10 business days as well.
Blue456
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Re: TSP processing times?

Post by Blue456 »

delamer wrote: Wed Jun 23, 2021 2:41 pm My indirect rollover check just arrived at TSP (according to Priority Mail tracking) for processing.

If you have experience with rollovers into TSP or any other transactions with them that required similar handling of paper forms, about how long did you have to wait for the changes to appear in your account?
8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
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delamer
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Re: TSP processing times?

Post by delamer »

Blue456 wrote: Wed Jun 23, 2021 4:45 pm
delamer wrote: Wed Jun 23, 2021 2:41 pm My indirect rollover check just arrived at TSP (according to Priority Mail tracking) for processing.

If you have experience with rollovers into TSP or any other transactions with them that required similar handling of paper forms, about how long did you have to wait for the changes to appear in your account?
8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
This was for a direct rollover?
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
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calmaniac
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Re: TSP processing times?

Post by calmaniac »

Blue456 wrote: Wed Jun 23, 2021 4:45 pm 8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
Sounds awful. Did they lose the check? Did they lose the TSP-60 and not lose the check?

I am getting ready to roll my IRA into my TSP (to facilitate back door Roth) and am looking to avoid as much pain as possible. Looking to glean anything useful advice. Thanks!
"Pretired", working 20 h/wk. AA 75/25: 30% TSM, 19% value (VFVA/AVUV), 18% Int'l LC, 8% emerging, 25% GFund/VBTLX. Military pension ≈60% of expenses. Pension+SS@age 70 ≈100% of expenses.
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delamer
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Re: TSP processing times?

Post by delamer »

calmaniac wrote: Wed Jun 23, 2021 4:58 pm
Blue456 wrote: Wed Jun 23, 2021 4:45 pm 8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
Sounds awful. Did they lose the check? Did they lose the TSP-60 and not lose the check?

I am getting ready to roll my IRA into my TSP (to facilitate back door Roth) and am looking to avoid as much pain as possible. Looking to glean anything useful advice. Thanks!
My rollover is to facilitate a Roth conversion, so very similar.

If you are doing a direct rollover, then the check comes from the original custodian. Since mine is indirect, the check, TSP-60, and documentation were all mailed together. So hopefully they won’t get separated.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
Blue456
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Re: TSP processing times?

Post by Blue456 »

delamer wrote: Wed Jun 23, 2021 4:54 pm
Blue456 wrote: Wed Jun 23, 2021 4:45 pm
delamer wrote: Wed Jun 23, 2021 2:41 pm My indirect rollover check just arrived at TSP (according to Priority Mail tracking) for processing.

If you have experience with rollovers into TSP or any other transactions with them that required similar handling of paper forms, about how long did you have to wait for the changes to appear in your account?
8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
This was for a direct rollover?
Yes direct roll over. Prudential sent check directly to TSP, they did not send the TSP 60. I didn't know that until 2 weeks later when TSP notified me that they received check but did not get the TSP 60. They advised for Prudential to fax the form to them. Prudential attempted to do this twice with second time CSR faxing the form while on the phone with me. Waited another week as advised by TSP CSR but without success. Then I mailed the form with first one TSP not being able to locate it and 2nd one delivered another week later. They never confirmed that they found the form but eventually I noticed my account balance updated to reflect roll over.

Note to myself for next time.
1. Do not have anybody fax anything to TSP.
2. Make sure to mail both TSP 60 and roll over check BOTH at the same time to TSP.
3. Don't ask third party to do number 2.

I honestly think that if I did it this way it would have been much smoother process. I still think that half the problem was Prudential that told me that they were going to mail both the check and TSP 60 together to TSP which they failed to do. They only mailed roll over check. Then probably the roll over check unaccompanied by TSP 60 went into some kind of hold/processing which delayed everything.
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delamer
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Re: TSP processing times?

Post by delamer »

Blue456 wrote: Wed Jun 23, 2021 5:19 pm
delamer wrote: Wed Jun 23, 2021 4:54 pm
Blue456 wrote: Wed Jun 23, 2021 4:45 pm
delamer wrote: Wed Jun 23, 2021 2:41 pm My indirect rollover check just arrived at TSP (according to Priority Mail tracking) for processing.

If you have experience with rollovers into TSP or any other transactions with them that required similar handling of paper forms, about how long did you have to wait for the changes to appear in your account?
8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
This was for a direct rollover?
Yes direct roll over. Prudential sent check directly to TSP, they did not send the TSP 60. I didn't know that until 2 weeks later when TSP notified me that they received check but did not get the TSP 60. They advised for Prudential to fax the form to them. Prudential attempted to do this twice with second time CSR faxing the form while on the phone with me. Waited another week as advised by TSP CSR but without success. Then I mailed the form with first one TSP not being able to locate it and 2nd one delivered another week later. They never confirmed that they found the form but eventually I noticed my account balance updated to reflect roll over.

Note to myself for next time.
1. Do not have anybody fax anything to TSP.
2. Make sure to mail both TSP 60 and roll over check BOTH at the same time to TSP.
3. Don't ask third party to do number 2.

I honestly think that if I did it this way it would have been much smoother process. I still think that half the problem was Prudential that told me that they were going to mail both the check and TSP 60 together to TSP which they failed to do. They only mailed roll over check. Then probably the roll over check unaccompanied by TSP 60 went into some kind of hold/processing which delayed everything.
Ugh. Sorry!

My hope, as noted above, is that having everything (check, forms, documentation) in one envelope may avoid what you went through.

And I figure that the current custodian doesn’t have much incentive to cooperate in moving money to the new custodian, which is another reason that I did the distribution out of the IRA online.

I’ll report back.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
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calmaniac
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Re: TSP processing times?

Post by calmaniac »

Blue456, thanks for the detailed response. Very helpful!
"Pretired", working 20 h/wk. AA 75/25: 30% TSM, 19% value (VFVA/AVUV), 18% Int'l LC, 8% emerging, 25% GFund/VBTLX. Military pension ≈60% of expenses. Pension+SS@age 70 ≈100% of expenses.
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Re: TSP processing times?

Post by retiredjg »

delamer wrote: Wed Jun 23, 2021 5:03 pm Since mine is indirect, the check, TSP-60, and documentation were all mailed together. So hopefully they won’t get separated.
I think this describes a direct rollover...if the check was made out to the TSP instead of to you.

I did this years ago so things may have changed. Once the check was received by the TSP (your situation) I don't recall any noticeable delay.
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delamer
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Re: TSP processing times?

Post by delamer »

retiredjg wrote: Thu Jun 24, 2021 10:47 am
delamer wrote: Wed Jun 23, 2021 5:03 pm Since mine is indirect, the check, TSP-60, and documentation were all mailed together. So hopefully they won’t get separated.
I think this describes a direct rollover...if the check was made out to the TSP instead of to you.

I did this years ago so things may have changed. Once the check was received by the TSP (your situation) I don't recall any noticeable delay.
No, I cashed out the IRA and had the proceeds deposited via EFT in my checkimg account. Then I made a check out and sent it to the TSP, along with the form and documentation.

That’s indirect.
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Re: TSP processing times?

Post by retiredjg »

Yes. That would be indirect. :happy
Efendley
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Re: TSP processing times?

Post by Efendley »

I retired under FERS on May 31.

On June 16, I uploaded to the TSP website a scanned copy of my signed and notarized withdrawal request, TSP Form 99 (WEB). On June 17, TSP emailed that my request had been approved. On June 18, my TSP account indicated that the first of my monthly withdrawals had been disbursed.

On June 22, my monthly withdrawal (minus tax withholding) was in my bank account.

Impressively quick, in my opinion! Meanwhile....still no word from OPM on my first FERS annuity payment or unused leave lump sum payment. TSP seems quick and efficient by comparison :D

Ed
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Re: TSP processing times?

Post by ChrisC »

Blue456 wrote: Wed Jun 23, 2021 5:19 pm
delamer wrote: Wed Jun 23, 2021 4:54 pm
Blue456 wrote: Wed Jun 23, 2021 4:45 pm
delamer wrote: Wed Jun 23, 2021 2:41 pm My indirect rollover check just arrived at TSP (according to Priority Mail tracking) for processing.

If you have experience with rollovers into TSP or any other transactions with them that required similar handling of paper forms, about how long did you have to wait for the changes to appear in your account?
8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
This was for a direct rollover?
Yes direct roll over. Prudential sent check directly to TSP, they did not send the TSP 60. I didn't know that until 2 weeks later when TSP notified me that they received check but did not get the TSP 60. They advised for Prudential to fax the form to them. Prudential attempted to do this twice with second time CSR faxing the form while on the phone with me. Waited another week as advised by TSP CSR but without success. Then I mailed the form with first one TSP not being able to locate it and 2nd one delivered another week later. They never confirmed that they found the form but eventually I noticed my account balance updated to reflect roll over.

Note to myself for next time.
1. Do not have anybody fax anything to TSP.
2. Make sure to mail both TSP 60 and roll over check BOTH at the same time to TSP.
3. Don't ask third party to do number 2.

I honestly think that if I did it this way it would have been much smoother process. I still think that half the problem was Prudential that told me that they were going to mail both the check and TSP 60 together to TSP which they failed to do. They only mailed roll over check. Then probably the roll over check unaccompanied by TSP 60 went into some kind of hold/processing which delayed everything.
Sounds like Prudential was the main culprit in your case for the snafu. So, Prudential took your funds out of the account there (because I assume that as soon as Prudential cut the check it withdrew funds from your account), and then you were not in the TSP account with those funds for several weeks?

In both my cases, the other custodians were responsible for fumbling the handoff and the resulting slight delays -- you have to stay on top of these guys! TRowe Price inadvertently cut a check for the entire balance of my 401K, when I specifically requested a much lower amount to be transferred. I found out this mistake when reviewing my TRowe account balance at the time it said it cut the check. TRowe and I got on the phone with the TSP CSR fortunately before the check arrived at TSP and TRowe placed a stop order on the check and told TSP not to process the check. TRowe then put the funds back in my account there and issued a new check. We had no problem with processing TSP 60 and TSP 60R, as TRowe sent them the forms with each check -- whether by fax or mail -- I don't know.

In the other case, I submitted an online request to TSP for the rollover/conversion to Wells Fargo, but this process can't be completed online for a direct rollover (if you do an indirect rollover from TSP you can do it all online, but I believe TSP will federal tax withhold from the rollover distribution). Wells and I had to complete TSP-99 (WEB) before TSP could send a check to Wells. The TSP-99 form requires the account holder to have his signature on the form notarized and the transferee IRA or Plan administrator to fill out some basic contact information and that the transferree can accept the funds. I sent in my completed part of the TSP-99 to Wells and asked Wells to fill out the rest of the form and then for some inexplicable reason, Wells sends the form (by fax) to TSP without filling out the information it was supposed to fill on the form. Fortunately, I'm on top of the case, when I see that TSP has rejected my rollover request, but they say they will hold it open and Wells can fax a revised TSP-99, with the required information -- 3 days later they send in the form. And 7 business days later the TSP check hits my Wells account.
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delamer
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Re: TSP processing times?

Post by delamer »

Efendley wrote: Thu Jun 24, 2021 1:09 pm I retired under FERS on May 31.

On June 16, I uploaded to the TSP website a scanned copy of my signed and notarized withdrawal request, TSP Form 99 (WEB). On June 17, TSP emailed that my request had been approved. On June 18, my TSP account indicated that the first of my monthly withdrawals had been disbursed.

On June 22, my monthly withdrawal (minus tax withholding) was in my bank account.

Impressively quick, in my opinion! Meanwhile....still no word from OPM on my first FERS annuity payment or unused leave lump sum payment. TSP seems quick and efficient by comparison :D

Ed
Glad to hear it went smoothly, and congratulations on your retirement!

I got my first pension payment on time but it took 9 months to get the amount finalized. And I was only getting 40% of my final amount during that time. I had both CSRS and FERS components in my pension, so the computation was admittedly more complex than for most annuitants. But I had to contact our agency pension rep and get her to intervene with OPM to get it resolved.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
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delamer
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Re: TSP processing times?

Post by delamer »

ChrisC wrote: Thu Jun 24, 2021 1:55 pm
Blue456 wrote: Wed Jun 23, 2021 5:19 pm
delamer wrote: Wed Jun 23, 2021 4:54 pm
Blue456 wrote: Wed Jun 23, 2021 4:45 pm
delamer wrote: Wed Jun 23, 2021 2:41 pm My indirect rollover check just arrived at TSP (according to Priority Mail tracking) for processing.

If you have experience with rollovers into TSP or any other transactions with them that required similar handling of paper forms, about how long did you have to wait for the changes to appear in your account?
8 weeks for me. Multiple faxes were not received, USPS delivered mail (certified with tracking) was not found and TSP 60 form had to be sent 2nd time, etc...
This was for a direct rollover?
Yes direct roll over. Prudential sent check directly to TSP, they did not send the TSP 60. I didn't know that until 2 weeks later when TSP notified me that they received check but did not get the TSP 60. They advised for Prudential to fax the form to them. Prudential attempted to do this twice with second time CSR faxing the form while on the phone with me. Waited another week as advised by TSP CSR but without success. Then I mailed the form with first one TSP not being able to locate it and 2nd one delivered another week later. They never confirmed that they found the form but eventually I noticed my account balance updated to reflect roll over.

Note to myself for next time.
1. Do not have anybody fax anything to TSP.
2. Make sure to mail both TSP 60 and roll over check BOTH at the same time to TSP.
3. Don't ask third party to do number 2.

I honestly think that if I did it this way it would have been much smoother process. I still think that half the problem was Prudential that told me that they were going to mail both the check and TSP 60 together to TSP which they failed to do. They only mailed roll over check. Then probably the roll over check unaccompanied by TSP 60 went into some kind of hold/processing which delayed everything.
Sounds like Prudential was the main culprit in your case for the snafu. So, Prudential took your funds out of the account there (because I assume that as soon as Prudential cut the check it withdrew funds from your account), and then you were not in the TSP account with those funds for several weeks?

In both my cases, the other custodians were responsible for fumbling the handoff and the resulting slight delays -- you have to stay on top of these guys! TRowe Price inadvertently cut a check for the entire balance of my 401K, when I specifically requested a much lower amount to be transferred. I found out this mistake when reviewing my TRowe account balance at the time it said it cut the check. TRowe and I got on the phone with the TSP CSR fortunately before the check arrived at TSP and TRowe placed a stop order on the check and told TSP not to process the check. TRowe then put the funds back in my account there and issued a new check. We had no problem with processing TSP 60 and TSP 60R, as TRowe sent them the forms with each check -- whether by fax or mail -- I don't know.

In the other case, I submitted an online request to TSP for the rollover/conversion to Wells Fargo, but this process can't be completed online for a direct rollover (if you do an indirect rollover from TSP you can do it all online, but I believe TSP will federal tax withhold from the rollover distribution). Wells and I had to complete TSP-99 (WEB) before TSP could send a check to Wells. The TSP-99 form requires the account holder to have his signature on the form notarized and the transferee IRA or Plan administrator to fill out some basic contact information and that the transferree can accept the funds. I sent in my completed part of the TSP-99 to Wells and asked Wells to fill out the rest of the form and then for some inexplicable reason, Wells sends the form (by fax) to TSP without filling out the information it was supposed to fill on the form. Fortunately, I'm on top of the case, when I see that TSP has rejected my rollover request, but they say they will hold it open and Wells can fax a revised TSP-99, with the required information -- 3 days later they send in the form. And 7 business days later the TSP check hits my Wells account.
The above is why I decided to go the indirect route. I figured the fewer humans that I had to rely on to get it right, the better.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
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TimeRunner
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Re: TSP processing times?

Post by TimeRunner »

On June 3rd I filled out TSP-99 (Web), took it to UPS Store for notary service for wife and me, returned home and uploaded it to Fidelity. Fido filled out their small section and sent it digitally to their unit back East which put it in the mail to TSP the next morning. Eleven business days later TSP sent me an email saying they had received it. They processed the withdrawal overnight the following business day. Now they have to print and mail the check to Fidelity. Assuming that takes five to seven business days to be printed and get to Fido via USPS, basically it takes about a month.

Fortunately I should not have to make another TSP withdrawal until the end of 2022, at which time I will withdraw another years' worth of TIRA and send it to Fido, and unless there's some improvement in the process, I will seriously consider moving everything except $200 to keep a TSP placeholder.

If it wasn't for the G Fund, I'd move everything out of the TSP.
One cannot enlighten the unconscious. | "All I need are some tasty waves, a cool buzz, and I'm fine." -Jeff Spicoli
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delamer
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Re: TSP processing times?

Post by delamer »

TimeRunner wrote: Thu Jun 24, 2021 3:01 pm On June 3rd I filled out TSP-99 (Web), took it to UPS Store for notary service for wife and me, returned home and uploaded it to Fidelity. Fido filled out their small section and sent it digitally to their unit back East which put it in the mail to TSP the next morning. Eleven business days later TSP sent me an email saying they had received it. They processed the withdrawal overnight the following business day. Now they have to print and mail the check to Fidelity. Assuming that takes five to seven business days to be printed and get to Fido via USPS, basically it takes about a month.

Fortunately I should not have to make another TSP withdrawal until the end of 2022, at which time I will withdraw another years' worth of TIRA and send it to Fido, and unless there's some improvement in the process, I will seriously consider moving everything except $200 to keep a TSP placeholder.

If it wasn't for the G Fund, I'd move everything out of the TSP.
Are you doing a partial rollover as opposed to a partial withdrawal?
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
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Re: TSP processing times?

Post by TimeRunner »

delamer wrote: Thu Jun 24, 2021 3:09 pmAre you doing a partial rollover as opposed to a partial withdrawal?
Partial rollover to existing Fido TIRA. Sorry for the confusion - mentally I think of it as a withdrawal from the TSP.
One cannot enlighten the unconscious. | "All I need are some tasty waves, a cool buzz, and I'm fine." -Jeff Spicoli
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delamer
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Re: TSP processing times?

Post by delamer »

TimeRunner wrote: Thu Jun 24, 2021 3:27 pm
delamer wrote: Thu Jun 24, 2021 3:09 pmAre you doing a partial rollover as opposed to a partial withdrawal?
Partial rollover to existing Fido TIRA. Sorry for the confusion - mentally I think of it as a withdrawal from the TSP.
If you do an indirect rollover, you could just get a check (or EFT) from the TSP and then send the money to Fidelity. I guess you’d have to make up the tax withholding in that case, though?

But I do hear you. TSP just seems to have outdated procedures. I had to use Priority Mail (which took 4 days instead of 2) because TSP has a P.O. Box and so I couldn’t do overnight with FedEx or UPS.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
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Re: TSP processing times?

Post by TimeRunner »

delamer wrote: Thu Jun 24, 2021 3:36 pm
TimeRunner wrote: Thu Jun 24, 2021 3:27 pm
delamer wrote: Thu Jun 24, 2021 3:09 pmAre you doing a partial rollover as opposed to a partial withdrawal?
Partial rollover to existing Fido TIRA. Sorry for the confusion - mentally I think of it as a withdrawal from the TSP.
If you do an indirect rollover, you could just get a check (or EFT) from the TSP and then send the money to Fidelity. I guess you’d have to make up the tax withholding in that case, though?

But I do hear you. TSP just seems to have outdated procedures. I had to use Priority Mail (which took 4 days instead of 2) because TSP has a P.O. Box and so I couldn’t do overnight with FedEx or UPS.
Unless I'm missing something, I would think it's faster to just have the TSP send a check to Fido's Rollover unit which knows it is coming and is ready to ingest it. Yup, TSP means Too Slow, Pardner.
One cannot enlighten the unconscious. | "All I need are some tasty waves, a cool buzz, and I'm fine." -Jeff Spicoli
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Re: TSP processing times?

Post by ChrisC »

TimeRunner wrote: Thu Jun 24, 2021 3:46 pm
delamer wrote: Thu Jun 24, 2021 3:36 pm
TimeRunner wrote: Thu Jun 24, 2021 3:27 pm
delamer wrote: Thu Jun 24, 2021 3:09 pmAre you doing a partial rollover as opposed to a partial withdrawal?
Partial rollover to existing Fido TIRA. Sorry for the confusion - mentally I think of it as a withdrawal from the TSP.
If you do an indirect rollover, you could just get a check (or EFT) from the TSP and then send the money to Fidelity. I guess you’d have to make up the tax withholding in that case, though?

But I do hear you. TSP just seems to have outdated procedures. I had to use Priority Mail (which took 4 days instead of 2) because TSP has a P.O. Box and so I couldn’t do overnight with FedEx or UPS.
Unless I'm missing something, I would think it's faster to just have the TSP send a check to Fido's Rollover unit which knows it is coming and is ready to ingest it. Yup, TSP means Too Slow, Pardner.
I’m not sure anyone is really fast unless it’s within the same custodian (and then some also require paper back-up). Given the multiple transfers/rollovers we’ve made from and to TDAs and Roths over the years, TSP seems to me to handle handoffs better than most. Other than doing transfers within the same custodian (e.g Vanguard tIRA to Vanguard Roth IRA), does anyone avoid paper checks, PO Box lock boxes, and notarized paperwork?
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Re: TSP processing times?

Post by TimeRunner »

ChrisC wrote: Thu Jun 24, 2021 4:23 pmI’m not sure anyone is really fast unless it’s within the same custodian (and then some also require paper back-up). Given the multiple transfers/rollovers we’ve made from and to TDAs and Roths over the years, TSP seems to me to handle handoffs better than most. Other than doing transfers within the same custodian (e.g Vanguard tIRA to Vanguard Roth IRA), does anyone avoid paper checks, PO Box lock boxes, and notarized paperwork?
I can't speak for the industry, only my experience. When I did a rollover in 2017 from TSP to Fido, it was faster. TSP notified me of the receipt of the request on April 5 and Fido deposited the resulting check to my TIRA on April 10. I don't have any paperwork showing the submittal date of the notarized paperwork to Fido, which sent it into TSP.

Is anyone aware of some law or regulation that requires "paper checks and PO Box lock boxes"? I know that the law requires notarized paperwork because spouses are entitled to an annuity, and I suppose requiring a notarized sig for a single person is another security step, but not my circus.

IMO, it's one of many disincentives to keeping funds at the TSP in the withdrawal phase vice bringing them all under one custodian, which would not be the TSP.
One cannot enlighten the unconscious. | "All I need are some tasty waves, a cool buzz, and I'm fine." -Jeff Spicoli
Faith20879
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Re: TSP processing times?

Post by Faith20879 »

Efendley wrote: Thu Jun 24, 2021 1:09 pm I retired under FERS on May 31.

On June 16, I uploaded to the TSP website a scanned copy of my signed and notarized withdrawal request, TSP Form 99 (WEB). On June 17, TSP emailed that my request had been approved. ...
Thanks for the tip. Did not know this is an option. We had been debating, between fax and snail mail which has less chance of "gotten lost in transition". It seems uploading is an even better option.

We rolled a tIRA into TSP in 2018. The whole process took about two weeks, no notable issue. This time we are rolling the Roth out of TSP. Because of the Covid, we don't expect it to go as smoothly as last time. Started the process two weeks ago, should be hearing from VG any day now.
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delamer
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Re: TSP processing times?

Post by delamer »

From the time my check arrived in the TSP’s P.O. Box, it took 4 businees days for it to be deposited in my account.

So it went well.

The only snag was that USPS took 4 days to deliver a 2-day Priority Mail envelope.

And for some reason TSP put half of my rollover deposit into a fund that I haven’t held for over a year and half into one that I currently hold. Easy to fix though.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
Faith20879
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Joined: Fri Mar 02, 2007 9:16 am

Re: TSP processing times?

Post by Faith20879 »

Faith20879 wrote: Fri Jun 25, 2021 7:16 am
Efendley wrote: Thu Jun 24, 2021 1:09 pm I retired under FERS on May 31.

On June 16, I uploaded to the TSP website a scanned copy of my signed and notarized withdrawal request, TSP Form 99 (WEB). On June 17, TSP emailed that my request had been approved. ...
Thanks for the tip. Did not know this is an option. We had been debating, between fax and snail mail which has less chance of "gotten lost in transition". It seems uploading is an even better option.

We rolled a tIRA into TSP in 2018. The whole process took about two weeks, no notable issue. This time we are rolling the Roth out of TSP. Because of the Covid, we don't expect it to go as smoothly as last time. Started the process two weeks ago, should be hearing from VG any day now.
Attempt to upload a scanned copy to TSP website failed. The reason given was " .... documents not original....". Will try fax next, fingers crossed.
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