Thread: The new TSP website is an unmitigated disaster!

Originally Posted by Mitchhyman

No the TSP has not offered any information on the timetable for installment withdrawals. Note that the current withdrawal system is mandated by a federal statute enacted about 5 years ago, and so the TSP Board is currently not in compliance with the law

Are you referring to 5 CFR 1650.2 - Eligibility for a TSP withdrawal? If so, how is the Board not in compliance? Because newly retired participants are currently unable to initiate installments?

I am referring to a TSP modernization law passed by Congress in 2017 requiring the TSP to allow the withdrawal options currently permitted within two years of enactment.

Originally Posted by Mitchhyman

I am referring to a TSP modernization law passed by Congress in 2017 requiring the TSP to allow the withdrawal options currently permitted within two years of enactment.

OK. I get that the current situation is a fiasco, and the website rollout has been a miserable experience for most users, but how is the Board not in compliance with federal law? I certainly hope the people who made this deceision are held accountable administratively, but how has the law been violated?

The TSP modernization law passed by Congress in 2017 mandates an installment payment program that allows participants to change, cancel and restart installment withdrawals as much as they want. The new website does not allow this flexibility and so for example I was not able to cancel the installment payment I received June 15. Presumably this capability will be added to the new website eventually but in the meantime the TSP is not in compliance with the 2017 law. What I am most upset about is TSP’s lack of transparency on what is going on and when I will have control over my funds again.

Originally Posted by Mitchhyman

The TSP modernization law passed by Congress in 2017 mandates an installment payment program that allows participants to change, cancel and restart installment withdrawals as much as they want. The new website does not allow this flexibility and so for example I was not able to cancel the installment payment I received June 15. Presumably this capability will be added to the new website eventually but in the meantime the TSP is not in compliance with the 2017 law. What I am most upset about is TSP’s lack of transparency on what is going on and when I will have control over my funds again.

I completely understand your frustration, and if you have read my previous posts you know where I stand on the premature rollout of the new website without ensuring that all of its features function properly. However, I don’t think this qualifies as an intentional act that led to lack of compliance with existing administrative public law that serves as guidance for the operation of the TSP. The current situation smacks of a low bid contractor over promising and under delivering. Hopefully, the current glitches in the new system can be sorted quickly. I have seen instances where new IT systems had to be completely scrapped because they simply didn’t work.

As an independent agency of the federal government the FRTIB probably comes under the jurisdiction of OIG. If this is as bad as it looks, I hope at some point OIG considers conducting an investigation of the circumstances that led to this fiasco. That should reveal if there was negligence in this situation and if willful non-compliance with the the statutes regulating the TSP has taken place.

By the way, here is an article dated June 22 with an update from the thrift board. There is no mention of the problem people are having because of the functions not currently available on the website. It seems to me there is a lack of self-awareness on the part of the FRTIB regarding what people are going through because of the recent changes.

https://www.govexec.com/pay-benefits...update/368458/


PS the wait time this morning on the thrift line is 79 minutes. It has been two weeks since I have been trying to change my monthly installment amount with no results.

Does anyone know if we will be getting our old calculators back? Annuity payout, etc. I used them daily!!


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I haven't seen it yet and their search feature is still not operational making it tough to find anything. I think we are forced to be patient while they work on the issues. This one may not be on their priority list.

Originally Posted by tsptalk

I haven't seen it yet and their search feature is still not operational making it tough to find anything. I think we are forced to be patient while they work on the issues. This one may not be on their priority list.

It would be nice to get some confirmation that they are actually working on the issues. The June 22 article which was purportedly an update concentrated on the issues with calculating loan amounts. The list of known issues posted on the TSP website mentions none of the things that have been brought up on this thread. So, that begs the question, are they really working on this stuff?

Originally Posted by Mitchhyman

No the TSP has not offered any information on the timetable for installment withdrawals. Note that the current withdrawal system is mandated by a federal statute enacted about 5 years ago, and so the TSP Board is currently not in compliance with the law

Lawsuit time. Any lawyers on here want to start a case?


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Originally Posted by Rcf3

It would be nice to get some confirmation that they are actually working on the issues. The June 22 article which was purportedly an update concentrated on the issues with calculating loan amounts. The list of known issues posted on the TSP website mentions none of the things that have been brought up on this thread. So, that begs the question, are they really working on this stuff?

Here is the list of “known issues” that is posted on the new TSP website as of 6/25/22 at 9:20 am DST. Despite the fact that there doesn’t seem to be a way to make an online request to change the amount of existing installment payments or federal tax withholding status, such things are not listed as issues they are working on. As far as I can see there is no guidance about making these requests through mail in / fax in forms either. I have seen references here stating that these features can only be accomplished by calling the TSP line, but I had no success when I called and actually got through.

Nevertheless, I thought it would be helpful to post the things TSP has identified as problematic and perhaps ask readers here to add issues you have identified that are not on this list. Maybe someone from the TSP is actually monitoring this thread and they can pass along our findings.

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