Fedweek

Data presented at this week’s monthly meeting of the TSP board show that only 1 million of the 6.6 million account holders have gone through the new sign-in process.

Complaints about customer service related to the TSP website continue a month after its launch, resulting in an unusual level scrutiny from Congress of the agency.

Many of the complaints involve the requirement that participants go through a new set-up process for their online personal accounts. While some report they did so with relative ease, large numbers continue to experience unresponsiveness with the site and then long waits on the ThriftLine when they seek help. The end result in some cases is the need for a security code to be sent by mail, further delaying the process.

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The situation could continue for some time; data presented at this week’s monthly meeting of the TSP board show that only 1 million of the 6.6 million account holders have gone through the new sign-in process.

Many of those who do get in have complained about missing beneficiary designations, incorrect tax withholding and other problems, while some question the accuracy of their account balances. Addressing that issue is all the more difficult, they say, because the new site provides account balance information only since the June 1 changeover; to go back farther, they must call the ThriftLine.

“Constituents have told me of phone wait times of over nine hours, of disconnected calls, and of missing and incorrect information in their accounts,” said Del. Eleanor Holmes Norton, D-D.C., who has requested a meeting with TSP officials. In response to an earlier letter from her, the TSP said “takes all these concerns seriously” and is adding customer service reps — but for the most part focused on data such as the numbers of records transferred and the transactions conducted under the new system.

Norton said while that response “expounds on the transition and benefits of the new TSP online system, it does not address the questions I posed in my letter.” At least one other member of Congress, Sen. Chris Van Hollen, D-Md., has also contacted the TSP with similar concerns.

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See also,

Eligibility for FERS Retirement

Your Finances after Retiring from the Federal Government

Your Retirement: A Slope or a Cliff?

FERS Retirement Planning Bundle: 2022 FERS Guide & TSP Handbook