THE BULLETIN BOARD
January 2008
[January 14th]TSP Considers Restrictions on Inter-fund Transfers
from the APWU Web News Article #04
Members of the Federal Employee Thrift Investment Board have authorized the TSP Executive Director to implement restrictions on inter-fund transfers as a result of what is being termed "excessive frequent trading" by a small number of TSP participants. According to the board, the excessive trading is driving up administrative costs of the plan and "having adverse effects on other participants."
Before the restrictions are implemented, however, participants will be notified of the specific limitations that are being considered. In February, an explanation of the proposed restrictions will accompany the annual participant statements that are mailed to everyone who has a TSP account. Interested persons will have 30 days to comment following publication of the proposal in the Federal Register.
The following statement was recently posted on the TSP website:
"In recent months, it has become clear that a relatively small number of Thrift Savings Plan (TSP) investors (less than 3,000 of our 3.9 million participants) are engaging in excessive frequent trading. Because this activity was clearly accelerating, and in light of the detrimental effect on fund performance and transaction costs, at its November 2007 meeting, the members of the Federal Retirement Thrift Investment Board authorized the Executive Director to put in place restrictions on interfund transfers."
In the meantime, under the plan approved by the Board, the TSP Executive Director will contact frequent traders and strongly urge them to practice self-restraint or face administrative consequences.
[January 7th]Five Scholarships Available to PMAPWU's Children
Pennsylvania AFL-CIO Scholarship Essay Contest
- Type: Academic Scholarship
- First Prize-$2,000.00, Second Prize-$1,000.00, Third Prize-$500.00
- Graduating high school seniors, all post secondary students, and affiliated Union members attending institutions, are eligible.
- Deadline to apply is January 31, 2008.
- Complete information, including Essay Topics, can be found at the Scholarship page of the PA AFL-CIO website.
APWU Vocational Scholarship
- Applicants must be a senior attending high school or other corresponding secondary school. Applicants must be a child or grandchild, including stepchild or legally adopted child of an active member, Retiree's Department member, or deceased member of the American Postal Workers Union.
- Type: Vocational Scholarship
- $1,000.00 for three consecutive years or until completion of course, with total not exceeding $3,000.00.
- Application is to be received no later than March 15, 2008.
- The APWU Scholarship Program Brochure can be downloaded from their website.
- You can download a 2008 application and rules from the APWU's scholarship information page.
The E.C. Hallbeck Memorial Scholarship
- Type: Academic Scholarship
- $1,000.00 for each of four consecutive years of college
- Applicants must be a senior attending high school or other corresponding secondary school. Applicants must be a child or grandchild, including stepchild or legally adopted child of an active member, Retiree's Department member, or deceased member of the American Postal Workers Union.
- Applications are to be received no later than March 15, 2008.
- The APWU Scholarship Program Brochure can be downloaded from their website.
- You can download a 2008 application and rules from the APWU's scholarship information page.
John T. Boxler Scholarship
- Type: Academic Scholarship
- $100.00 for each of four consecutive years of college.
- Applicant must be the son or daughter of an active member of the PPWU through local affiliation or a Member at Large (M.A.L.) for at least one year immediately preceding the closing date of application.
- Rules, guidelines, and an application can be downloaded at the Pennsylvania Postal Workers Union website.
- Application must be received by May 31, 2008.
Patrick McShane Memorial Scholarship Program
- Type: Academic Scholarship
- $500.00 for one year, or per award.
- Applicants must be a current graduating high school senior or a college undergraduate whose parent or legal guardian is a current active member in PMAPWU.
- Application must be received by May 17, 2008.
If you are interested in obtaining further information, or would like an application for these scholarships, please contact the Union Hall, (412) 321-4700.
[January 5th]2007 Tax Information for Postal Employees— Wage and Tax Statement W-2 Forms
All employees must have a current mailing address on file with the newly consolidated HRSSC in Greensboro, NC. If you need to change your current mailing address, you have four options, all of which are detailed on the 2007 Tax Information page at the USPS website.
[January 1st]A Happy and Prosperous New Year to All!
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