The Thrift Savings Plan might want to adopt some of the
same customer service practices used by private plan
managers, the Government Accountability Office has said
after looking into “customer service-related difficulties”
that arose after the TSP governing board — the Federal
Retirement Thrift Investment Board — converted the record
keeping system in 2003.
It said private plan managers often emphasize satisfying
customer needs with a single phone call to track the
efficiency and effectiveness of call centers rather than
tracking more “quantifiable” metrics such as call response
time.
While TSP managers said agency reps serve as initial points
of contact for counseling, private plan managers said they
rely less on on-site reps in order to bolster call center
services and web resources which they use as the primary
vehicle to communicate with customers, according to
GAO-05-38.
It said private managers often include customer satisfaction
surveys in their voice response systems, conduct them on
the spot and online, and regularly update technology to
improve customer service, which is one way these private
managers have “emphasized the importance of incorporating
customer service into their deliver model.”
TSP managers also survey participants, but they lack “a
systematic approach to assess whether their customer
service meets participants’ needs,” said GAO, adding that
the TSP relies mainly on customer service staff and agency
coordinators to assess the level of service to its 3
million participants.
GAO also said private plans sometimes allow participants
to create account statements for any period of time and
offer online seminars on various aspects of the plans,
while the TSP website “relies more on basic features.”
