Armed Forces News

The new daily-valuated plan for Thrift Savings Plan investments as well as an increase in plan participants has strained the program’s customer services telephone capability. In response, the Federal Retirement Thrift Investment Board, which administers the TSP program, has contracted with Spherix Incorporated of Beltsville, Md., to add two new call centers. The new centers initially will absorb 20 percent of the TSP workload and eventually will handle half of all TSP phone calls. When fully operational, the new setup will allow TSP centers to be open for phone calls until 9 p.m., two hours later than their current cutoff of 7 p.m. weekdays. The additional centers also will serve as a backup to the TSP’s current call center in case it is shut down or compromised by a disaster.