Changes Coming to Thrift Savings Plan

In order to implement several new features and tools for federal employees, the Thrift Savings Plan will be temporarily suspending certain transactions and services starting May 16 and running through the first week of June. 

The exact details and timing of the suspension can be found on this TSP calendar

Once complete, TSP investors will have access to a new mobile app, the ability to invest in mutual funds, personalized support to help move money from other accounts into TSP, a more efficient process for requesting withdrawals or distributions, more online transactions, full-time access to a new virtual assistant to ask questions, and many other improvements. TSP’s website includes a summary of all of the reforms. 

The Thrift Savings Plan is essential for helping employees prepare for retirement and is one of the most important and valuable benefits available to the federal workforce. National President Tony Reardon is a member of the Employee Thrift Advisory Council and makes sure employees’ voices are heard in the management of the TSP.