Join Early Retirement Today
Thread Tools Search this Thread Display Modes
TSP Email Hoax
Old 03-11-2009, 07:03 PM   #1
Recycles dryer sheets
Join Date: May 2008
Posts: 119
TSP Email Hoax

If you see this:

TSP Fund Manager Arrested

The United States government employee investment Thrift Savings Plan's "I Fund" Manager, Samuel Hoeffler, was arrested Friday morning in his penthouse in the upper east side of New York City.

The United States government employee investment Thrift Savings Plan suffered a massive loss of confidence last week after allegations that its"I Fund" suffered from several accounting irrelegularities all the way backto 2007 that may result in drastic restatements in earnings for the venerable fund.

Prosecutors said The Federal Retirement Investment Board was cooperating with the investigation and were painting Samuel Hoeffler as a rouge manager who lost control of the fund sometime in late 2006 and had hoped for further market growth to cover the losses.

The question that The Federal Retirement Investment Board has to cope with now is the impact on inter-fund transfers. At the moment they have not frozen withdrawls from the fund. Previous transfers in to other funds are now in question, as the funds from which these transfers originated may not actually exist, harking to such ponzi schemes as the recent Madoff scandal.

The arrest was unexpected for Mr. Hoeffler, who as recently as January had spoken before a House sub-committee on Military Affairs regarding the future solvency of the TSP.

The Federal Retirement Investment Board is preparing a statement on what this means for millions of veterans and government employees who rely on the

TSP for their retirement savings. They expect to release a website for the potential victims of this fraud by the end of the week. A White House spokesperson had no official comment at publishing.

Realize this:

The Federal Retirement Thrift Investment Board (FRTIB) has become aware of an e-mail and Internet hoax purporting illegal activity on the part of an individual said to manage the Thrift Savings Plan (TSP) I Fund. The

TSP is actively investigating the origins of the bogus web site.

The individual named (Samuel Hoeffler) and his connection to the TSP investment funds are completely fictitious. Be assured that the TSPís I Fund has not suffered from accounting irregularities and is not insolvent.

All of the TSP funds, with the exception of the Government Securities Investment Fund (G Fund) are passive investments. In other words, they are invested in index funds; they are not managed by an individual actively selecting securities in an effort to outperform the market. The investment objective of each fund is to achieve approximately the same return as the particular market index that it tracks. The I Fund, for example, is invested in a stock index fund that tracks the Morgan Stanley EAFE Index. The TSPís C, S, I, and F Funds are managed by Barclays Global Investors, one of the largest and most respected investment managers in the world.

Participants should always exercise caution if they receive unusual or suspect e-mail.


Boxkicker is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-12-2009, 08:02 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
Join Date: May 2008
Location: Following the nice weather
Posts: 5,797
Not to mention, I don't think they let rouge managers run the TSPs. I think they have to be pink or brown or something.
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Hawaii Housing Bubble Hoax honobob Other topics 38 09-23-2008 11:53 AM
Snowbird email Mysto Life after FIRE 9 08-22-2007 05:44 PM
Hydrogen Hoax and real Alternative Fuels for cars samclem Other topics 86 02-27-2007 09:38 PM
Promising cancer treatment or hoax? The "other" DCA samclem Health and Early Retirement 1 02-12-2007 10:12 AM
Spam email My Dream Other topics 10 10-27-2006 04:20 AM


All times are GMT -6. The time now is 02:19 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.