Page 8 of 20 FirstFirst ... 67891018 ... LastLast
Results 85 to 96 of 237

Thread: The new TSP website is an unmitigated disaster!

  1. Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by Rcf3 View Post
    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.

    ************


    Confirm Your Beneficiary

    For a small number of participants, we did not transfer beneficiary information to our new system because it did not meet certain data quality standards. We encourage all participants to review and confirm beneficiary information.
    Additionally, if your beneficiary is also a TSP participant, meaning they work or worked for the federal government or uniformed services, the new system “connects” their participant record to your beneficiary record.
    • If your beneficiary information appears to be inaccurate and they are an active participant, they will need to contact their agency or service’s payroll office to update their mailing address and any other personal information. Once your beneficiary’s information is updated in their agency or service’s payroll system, it will be updated in My Account accordingly.
    • If your beneficiary is a separated participant, meaning they’ve left federal service, they can update their information when they log in to their My Account or call the ThriftLine.

    Installment Payment Dates

    As communicated prior to our transition, all installment payments will be disbursed on the 15th of
    the month the payment is scheduled to be sent. If the 15th is a holiday or weekend, the payment
    will be disbursed the following business day. This distribution date applies to monthly, quarterly,
    and annual payments. You will not be able to change this date.

    Access to Historical Information

    You have access to year-to-date employee contributions for 2022 along with ten years of prior year-ending account balances in My Account (2012 – 2021). Additional historical information, such as statements, documents, and other messages from the prior system, have not been transferred to the new My Account.

    Changes to your Maximum Loan Amount Calculation

    We’ve made some changes to the way your maximum TSP loan amount is calculated. The maximum amount you can borrow is the smallest of the three “tests” listed below.
    1. Your own contributions and earnings on those contributions in the TSP account from which you intend to borrow (civilian or uniformed services), not including any outstanding loan balance (the Contributions and Earnings Test).
    2. 50 percent of the portion of your total account balance that is made up of your own contributions and earnings on those contribtuions (including any outstanding loan balance) or $10,000, whichever is greater, minus any outstanding loan balance
    Note: Before June 2022, this was 50 percent of your vested account balance (including any outstanding loan balance) or $10,000, whichever is greater, minus any outstanding loan balance
    3. $50,000 minus your highest outstanding loan balance, if any, during the last 12 months (the IRS $50,000 Test).
    Please refer to our General Purpose and Primary Loans publication for additional information.

    Account Hold vs. Account Lock

    If you initiated a hold on your account prior to June 1, 2022, we’ve transferred that hold to the new system, and it will still prevent processing of loan, withdrawal, and distribution requests. However, you won’t see information about this hold when you log in to My Account because we’ve introduced a new “account lock” feature in the new My Account, which we encourage you to set up to replace the existing hold. The new account lock feature has the same functionality as the hold in that it prevents processing of loan, withdrawal, and distribution requests from your account. The difference is that you can remove the lock yourself in My Account without having to call the ThriftLine. If you need to request a loan, withdrawal, or distribution from your account with a hold, you’ll need to call the ThriftLine first to release the hold, even if you also create an account lock in My Account. Once you remove a hold from your account, you’ll use only the account lock feature for this extra layer of security.

    Year-to-Date and Conversion-to-Date Personal Rate of Return Information

    In My Account, you will see “year-to-date” and “conversion-to-date” information. Please note this information for the rate of return for your personal TSP investments represents data as of the transition to our new system on June 1, not the beginning of the calendar year. Please visit tsp.gov for more information regarding TSP fund performance by month and calendar year.

    Address Change in Document History

    In the Document History section of My Account, you may see an “Address Change” activity. Please note this refers to the action that was recorded when you established your new online account log in. For more information on how to change your address, click here.

    References to “Deposits”

    In the Online Account Statement section of My Account, you will see a reference to “Deposits.” Your payroll contributions and loan repayments are accounted for here.
    When did disperse on the 15th become, they take it out of our account that day? When they use dispersed it meant in your account that day depending on your bank. So now we are getting our payments on the 16-18th and in July the 15th is on a Friday so we will get our money on the 18-20th. I use to get my money dispersed on the 8th which meant they took it from my account on the 7th and they dispersed it on the 8th. How convenient that is they now view dispersed meaning it comes out of your account on that day!

  2.  
  3. #86

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    https://www.tsp.gov/fund-performance...price-history/
    you don't have to login to see this.

  4.  
  5. #87

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by nasa1974 View Post
    Correct, but the market was open Friday 5/27 and Tuesday 5/31. The prices posted are from Thursday 5/26 for both 5/27 and 5/31. So it appears that TSP is considering 5/27 and 5/31 as a holiday period.
    Everything was frozen from May 26-June 1. They warned us about this.

  6.  
  7. #88

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by tsptalk View Post
    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.

    go to tsp.gov. Don't login. Click "manage your plan" > Calculators
    or this link.
    https://www.tsp.gov/calculators/

  8.  
  9. #89

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by Rcf3 View Post
    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.
    Those capabilities now have to be done through the ThriftLine, fax or mail. IMO this was purposely done by the contractor to justify hiring more people to handle it.

  10.  
  11. #90

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by Mitchhyman View Post
    Installment payments are in a separate category with different rules than partial and full withdrawals. This is all explained in a booklet on distributions that you can access through the information sections of the website. Installment payments have not been available on the new website since it was started three weeks ago. So right now you cannot start an installment payment program, nor can you cancel, increase or decrease your installment payments set up under the old website. I don’t know if you can do these things through the helpline because I have never been able to get through to someone who can help. My tolerance for waiting on the phone is 1.5 hours.
    have you tried the automated help or live chat, or the automated system on thriftline? This system is definitely not an upgrade, we're back to where we were 10 years ago. In fact, farther than that because they HAVE given us back the ability to move dollar amounts as well as percentages, which is how TSP was originally set up.


  12.  
  13. #91

    Join Date
    Apr 2005
    Posts
    14,693
    Blog Entries
    13

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by ANIDOC View Post
    Those capabilities now have to be done through the ThriftLine, fax or mail. IMO this was purposely done by the contractor to justify hiring more people to handle it.
    By George, I think you nailed it!!!


    Sent from my iPhone using TSP Talk Forums

  14.  
  15. #92

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by nasa1974 View Post
    Logged back into my account this morning. I haven't been on since I set up the new account last week. On the old website you could put in any date and see what the cost per share was for all the funds on that date. Has anyone found that information on this new website? I'm trying to fill in the missing dates during the website blackout so my excel spreadsheet is accurate. Thanks.
    There is no working query function for specific dates, or ranges for ANYTHING. The only query is for EOY balance for each of the last 10 years. I tried using the "statement" query to get a balance for a specific date using the same date for beginning and ending, that didn't work.

  16.  
  17. #93

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by Rcf3 View Post
    Yes, the account needs to be “reclaimed” since your old username and password won’t work on the new site. Apparently, every time you edit or add information the site generates an event notification. I kept on getting emails regarding an “address change” being processed. I requested no such thing but I did add an email and a phone number to my profile so I assume those changes generated the notification

    I still have to figure out how to add my wife to the account. It keeps telling I have to go through my agency, but I’m retired so that is not an option. The TSP line rep was clueless about this issue so I’m on my own.
    Your "agency" is OPM. Contact them.

  18.  
  19. #94

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by James48843 View Post
    I’m pretty sure it is the change in tax withholding. I know that is what is different with mine. Previously I was getting zero federal withholding. Now they are taking out federal taxes.
    Sent from my iPhone using TSP Talk Forums
    By law, they aren't allowed to change your payment or withholding without your permission. Doing so can cause financial difficulties for the taxpayer.

  20.  
  21. #95

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by rdodson View Post
    i apologize if I missed something in this thread's problems with the new TSP website.
    However, I had a small problem with the changeover, certainly nothing I could not resolve within minutes and some patience. I processed an IFT on June 3rd with no problem. My monthly withdrawal processed, on the 15th, in accordance with the new withdrawal rules dictated by TSP (it should be a day the participant chooses within reason). Since I have the whole withdrawal amount sent to IRS for Fed taxes I am not sure when it was sent.

    I get the Black Rock thing, I agree, Black Rock controls too much, so does big tech.............which is why they must get together this Fall to figure out how to influence the coming election.
    which means the voters have to wise up to the destruction of the middle class (even young people are not as liberal as the media wants us to believe). As people grow older they start to understand moderate outlooks.

    Pulling your TSP out into Vanguard????? Who runs Vanguard? LOL, Black Rock? research needed!
    And my families' Vanguard experience with pulling money out from a deceased's trust was problematic.
    Is Fidelity any better? I think so...but ya never know.

    Sorry to get just a tad political....but turn your anger and frustration into Nov 8th (I think that is general election mid term).
    Don't be woked into thinking that the deep state can't be turned around. Without us they have nothing but money and money is not our creator.
    https://www.thestreet.com/investing/...m-state-street
    https://federalnewsnetwork.com/tsp/2...-21st-century/ FAIL (well that fixed the problem Blackrock caused them - and how much input did Blackrock have in THIS decision?)
    https://www.govexec.com/pay-benefits...window/186349/ it appears that THIS is what they are focusing on. NOT features we have had for years and actually need to manage our own funds.

  22.  
  23. #96

    Join Date
    Apr 2008
    Location
    Mississippi
    Posts
    2,045

    Default Re: The new TSP website is an unmitigated disaster!

    Quote Originally Posted by TSPIntel View Post
    It feels like the Thief office Black Rock is sweep billions of $ce $$$ to fed employees from their tsp retirement fund. We should contact the congress and the news media as needed the soonest. They lock the accounts of millions of members when everyone should be on the C fund. Thief office have shutoff its phone lines so noone be able to reach them.
    First Horizon (Blackrock owns 55%) has recently done the same thing with their customer's accounts. FROZEN or disappeared.

  24.  
Page 8 of 20 FirstFirst ... 67891018 ... LastLast

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
S&P500 (C Fund) (delayed)
The new TSP website is an unmitigated disaster!
(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)
The new TSP website is an unmitigated disaster!
(Stockcharts.com Real-time)
EFA (I Fund) (delayed)
The new TSP website is an unmitigated disaster!
(Stockcharts.com Real-time)
BND (F Fund) (delayed)
The new TSP website is an unmitigated disaster!
(Stockcharts.com Real-time)

Yahoo Finance Realtime TSP Fund Tracking Index Quotes