Fedweek

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The TSP has said that that as it moves to a new record-keeping system, account holders generally “won’t need to take any actions to prepare for the transition. Your money will remain invested in the TSP funds you’ve chosen.”

One step that will be required of virtually all investors, though, will be to set up a new login to the My Account page because of new security features. In an online posting, the TSP said it will inform account holders what is required when that feature goes live along with others in early June.

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It also noted that because of the blackout period on changing existing or ongoing investment allocations starting May 26 until sometime in the first week of June, “You should review your current investment choices and make sure they still align with your retirement goals. Keep in mind that once you’ve established your retirement goals and a savings strategy that fits your needs, you’ll have the best results if you stick to your plan. Make adjustments to your long-term strategy only after careful consideration.”

Also, it said, “Documents and messages currently available in My Account will not transfer to the new system. You may want to download your historical statements and save any messages so you have easy access to them in your records. If you need any historical statements after the transition, you’ll be able to call the ThriftLine and request to have them mailed to you. Statements that post after the transition will be available to you in My Account going forward.”

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