Many people of a certain age dread it when the folks who control access to their phone, bank, payroll, parking space, insurance or 401(k) plan announce a change, i.e. improvement in the way things are being done. A mandatory change that will lead to new faster, better, streamlined ways to do things. Or, sometimes, not!

Some of the fearful can avoid some of the changes. In other cases there is no escape, if escape is what they’d like!

The June 1 rollout of the TSP’s new My Account system requires all participants to set up a new login system for their personal account. No good saying “the old system is fine.” This is one of those everybody-in-the-pool deals. It is part of the massive changeover that will give investors — civilian and military — the option to put some of their current and future retirement nest egg in any of 5,000 new funds. For many it’s about time. They hope to make a lot more money and maybe support certain causes with their 401k money. For others it’s a nightmare. Both the rollout itself and what, to them, is a bewildering array of choices.

Lots of folks having trouble with the new system contacted Federal News Network to share their stories.

One 70-something who has been a TSP investor since day one said, “I too had lots of trouble,” until he asked his more tech savvy wife to check it out. “She had it down in less than 2 minutes,” he said. So there is hope, right? Might even turn out to be better. This is no consolation to the don’t-fix-it-if-it-ain’t-broke community. Of which I am a card-carrying member. But it is happening. And the folks in charge are not only very competent, they are also in the same boat as you. Which is more than many private sector workers can say about their 401(k) plan, with its oversight, low fees and matching contributions.

Nearly Useless Factoid

By Daisy Thornton

The total biomass of all the ants on Earth outweighs that of the total population of humans nearly by a factor of 10.

Source: NPR

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