Better Performance Ahead Promised

TSP officials told the committee that the new system was tested extensively before the launch but that unexpected problems arose. The technical problems with the Web site have been fixed and that the site is now operating at and even above the capacity envisioned for it, they said, although even at that rate access during prime business hours can be slow. They also noted that they have increased hours and staffing at the National Finance Center, which handles the customer service phone line and manual data input of loan and other transactions, and said they have created two separate centers to help with the load. Officials said the backlog of loans and other transactions should be cleared out in three to five weeks, possibly sooner, and that a backlog of loan payoffs-which in some cases were needed to issue new loans-has been eliminated. Once the paperwork backlog is cleared, the customer service phone system should improve as well, they said. (Note: officials separately also clarified the potential role of agency TSP coordinators in assisting participants with problems. While the coordinators would not be able to help with issues regarding potentially incorrect loan balances, they can help to make sure that proper deductions are being taken from pay, they said.)