TSP Officials Say They’re Nearing ‘Normalcy’ After a Troublesome Recordkeeper Transition

Wait times on the customer service number for the federal government’s 401(k)-style retirement savings plan are down from over two hours to 15 minutes on average.

Officials with the federal government’s 401(k)-style retirement savings plan said Tuesday that there is light at the end of the tunnel that is the Thrift Savings Plan’s troubled transition to a new recordkeeper.

Since June 1, when the TSP moved its recordkeeping services to a new provider, Accenture Federal Services, and updated its website to feature a more secure login process and a number of other changes and new features, participants have bemoaned difficulty setting up and logging into their accounts, finding account information and historical documents, and confirming their beneficiary choices, among other problems. Click HERE to read more.