The agency that administers the Thrift Savings Plan is getting a big budget boost next year to handle a growing number of enrollees, staff and responsibilities.
The agency that administers the TSP said it’s planning to take additional caution in validating participants’ identities in light of the Equifax breach.
The Senate sent the TSP Modernization Act to the president’s desk this week. The bill will give Thrift Savings Plan participants more flexible options for making withdrawals from their accounts.
Nearly 120,000 callers spent 5 minutes or longer waiting for a Thrift Savings Plan call representative to pick up the phone last month, a metric that’s well short of the TSP agency’s customer service goals.
About 20,000 new opt-ins to the blended retirement system aren’t taking full advantage of the Thrift Savings Plan and its benefits.