New TSP Computer System Delayed Again

The Thrift Savings Plan has delayed yet again the launch of a new computer system, saying that testing showed the system was not yet able to accommodate the periodic high-volume contributions that flow in. During the summer the TSP had said it expected the long-awaited system to be operative in November, but in its latest announcement it set no expected date for the switchover. The new system will be designed to bring numerous changes in investment, withdrawal and administrative policies, including: a switch to daily valuation with accompanying freedom to make interfund transfers as often as every business day; the option to mix and match withdrawal options and to take partial withdrawals; the option to take out general purpose loans over as many as five years rather than four; and new automated account management features.