The agency that administers the $95 billion Thrift Savings Plan has delayed for five more months the availability of two new TSP funds. The old date was May 1, 2000. It’s now October 1, 2000. That means participants won’t be able to invest in the new small cap and international funds until at least October 1. Primary reason for the date change is the need to extensively test a new record-keeping system to support the added workload in advance of bringing in the new funds, the Federal Retirement Thrift Investment Board explained. The board also said that legislation with significant bipartisan support that would permit the TSP to accept transfers from certain other retirement systems and eliminate the current 6- to 12-month waiting period to join the TSP also “strongly influenced” its decision. That bill — HR-208 — has an October 1, 2000 effective date.
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