New TSP System Expected Next Month

Thrift Savings Plan officials have said they expect the TSP’s new computer system will be available in mid-June, culminating a six-year-long upgrade project that has seen numerous delays and missed launch dates. Program officials have told the TSP governing board that while testing continues, they are confident the system will be ready in that time frame. Many investors have been most interested in the switch from monthly to daily valuation of accounts, which will include showing balances in shares and share prices (probably starting at $10 a share for each of the TSP’s five funds) as well as in total dollar amounts and will allow interfund transfers as often as every business day. Currently, investors have to wait between two and six weeks to have transfers among funds become effective. Daily valuation also will speed processing of loans and withdrawals.