Thrift Savings Plan (TSP) account holders will have limited access to their account and be unable to make transactions in a few weeks as the system moves to a new recordkeeping provider.
The move, set to be finalized in the first week of June, will result in new TSP features including a new mobile app, access to a “mutual fund window” (fees apply), expanded assistance with fund rollover requests, and new fund transfer options. Full details are available at this TSP website, but even those who won’t take advantage of the new items will see disruptions to their accounts as part of the changeover.
Some deadlines for TSP users to remember, according to the TSP website:
- Last day to upload forms, or create forms using the My Account online tool, to use the tool’s Secure Message Center, or to use the tool to make transaction requests.
- Last day to access forms on TSP.gov.
- Last day to submit forms/checks requesting transfers into the TSP.
- Last day to complete TSP loan agreements or submit loan payments/payoffs (payments deducted from payroll will continue).
- Last day to complete withdrawal requests.
- Last day for TSP to receive materials by mail or fax to be processed before the changeover.
May 26 (noon Eastern unless noted)
- Last day to make investment transactions, including allocation changes and fund transfers.
- Last day to change the term/payment amount of TSP loans.
- Last day to use My Account for investment transactions (including contribution allocations).
- Last day to make My Account profile changes, including contact information (by 6 p.m. Eastern).
- Last day to call the TSP ThriftLine before the changeover (by 9 p.m. Eastern).
TSP users won’t be able to make any transactions from May 26 through the first week of June, per the TSP website, which does not provide a specific date for service restoration. Installment payments set for May 24-31 will be made May 23, and all scheduled payroll contributions and automatic loan payments will continue.
Once the new service is in place, all TSP users will need to create a new My Account login to establish a new account.
TSP account holders with questions about the changeover can contact plan administrators at 1-877-968-3778 or via the TSP website.
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