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for Agency and Service TSP Representatives

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Transition-Related Changes for Participants and Beneficiaries

Due to your interaction with agency/service employees, please note the additional dates and deadlines associated with the upcoming transition of the Thrift Savings Plan (TSP) to a new service provider that may impact your agency/service and employees. All participants and beneficiaries have received direct notice of this information and will continue to receive regular communications. More information about the dates, details, and features outlined in this bulletin can be found at any time at www.tsp.gov/new-tsp-features.

Transition Period:

  • May 16, 2022 will be the last day to:
    • Access online tools in My Account to make transaction requests (including loan, withdrawal, and distribution requests).
    • Upload forms and documents in My Account.
    • Complete rollover or transfer requests. Complete a loan agreement. Submit loan payments. Complete withdrawal requests.

    We must receive your request and any supporting documents for new and pending requests by this date. If we receive your information after this date, we won’t be able to process your request. In that case, you’ll need to submit a new request after the transition period ends the first week of June.

  • All transactions will be temporarily unavailable between May 26th to the first week of June.
  • Full access and transactions will be restored during the first week of June.

A detailed, up-to-date calendar of the TSP transition period, including specific dates for each transaction type, can be found here.

Plan Changes & New Features:

As part of the transition to a new TSP service provider, we are introducing exciting new features to make the TSP experience even better for participants and beneficiaries. These changes include more flexibility in how participants access My Account, more options to contact TSP representatives for help, and even more transactions that can be completed smoothly and securely online.

What’s Changing:

  • A mobile app that puts account management at your fingertips.
    • Access to your account from anywhere, anytime.
    • Year-to-date fund performance, balance history, and current investment mix.
    • Online transactions to move money between funds, and more.
  • More investment options through the TSP mutual fund window, personalized support for rollovers to your TSP account, and a new way to move money within your TSP account.
  • Additional layers of security to enhance account protections.
  • A new My Account interface designed with you in mind.
  • Secure logins with the option to use device biometrics, such as fingerprint or facial recognition when using the mobile app.
  • Expanded support options including an online chat function to connect with a ThriftLine Representative, a 24/7 virtual assistant on our website, and phone access to speak with a ThriftLine Representative.
  • Electronic signatures and online payment options that reduce paperwork and save time.

What’s Staying the Same:

  • Investment elections will remain the same for both future contributions and current allocations unless you make a change. TSP funds are also staying the same.
  • The way employees establish or change their contributions will remain the same. Establishing or changing contributions will still be made via your agency/service online payroll system, and/or by completing the TSP-1 or TSP-U-1 forms and returning them to your agency’s/service’s HR department.

More information about these and other features can be found at www.tsp.gov/new-tsp-features.

As shared in the 3/25/2022 TSP.gov announcement and in Bulletin 22-2, agency/service representatives will receive a “Communications Toolkit” from their FRTIB training contacts with information regarding changes for TSP participants and beneficiaries. The Communications Toolkit is a packet of digital resources to help partner agency/service representatives effectively communicate TSP changes to their networks of participants and beneficiaries.

More information about the Communications Toolkit can be found here.

Bulletin:
22-4
Date:
May 05, 2022
Inquiries:
Questions concerning this bulletin should be directed to your Agency Support Team at agency.support@tsp.gov.
Chapter(s):

Chapter 2, General information

Supersedes:

N/A