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Dear Participant,
As a valued participant or beneficiary of the Thrift Savings Plan (TSP), I’m writing to you with some exciting news about improvements we’re making. With 2021 behind us, we at the Federal Retirement Thrift Investment Board (FRTIB) are pleased about what’s ahead for the TSP. In the upcoming months, we’ll be preparing to shift to a new service provider in the summer of 2022. This change will improve your TSP experience with new tools to meet your evolving needs.
Digital tools. We’ve appreciated your feedback about wanting to engage further with your TSP through online channels. Now we’re acting on it. Starting mid-2022, you’ll have access to new service channels through our ThriftLine Service Center. Through this seamless digital experience, you’ll have the flexibility and convenience of completing transactions across multiple platforms, just like you do with your bank or other modern financial institutions.
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Mobile app—The official TSP app will provide on-the-go access to your TSP account and will create a mode for two-way conversations with us. It also will allow you to log in to My Account using the identification software on your mobile device, such as fingerprint access and facial recognition, which adds an extra level of security.
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Virtual assistant—Once you log in to My Account via the web or mobile app, you’ll have 24-hour access to an interactive assistant for information and automated support when you need help. The virtual assistant is powered by artificial intelligence technology and will transfer you to a ThriftLine Representative during business hours, if needed.
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Live-agent chat—The online chat function will connect you to a live ThriftLine Representative for personalized support during business hours. Simply log in to My Account with your credentials, and you’ll have access to the chat at your fingertips.
Streamlined processes. The following new features will reduce paperwork processing and will give you more control over managing your TSP.
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Electronic signature—You’ll be able to complete many transactions online by providing your e-signature, which is easy, secure, and legally binding.
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Rollover assistance—If you want to move retirement money into the TSP, you’ll use a streamlined process and will be able to scan your rollover check with your mobile device.
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Electronic payment options—You’ll be able to make electronic transfers for loan payments and payoffs, including payments after you’ve separated from service, and disbursements from your account.
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Secure Participant Mailbox—You’ll get personalized communications like statements and transaction notices directly in your new My Account inbox.
Additional changes. Beyond the improvements listed above, we’ll introduce new procedures and capabilities to enhance account security features already in place, provide an enhanced My Account for a more intuitive user experience, and offer a mutual fund window that will provide opportunities to invest in thousands of mutual funds.
Important. To prepare your TSP account for these secure Plan features, you’ll need to perform some steps to set up online access to My Account after the transition to our new service provider is complete. In the coming months, you’ll receive communications from us with instructions on how to complete those steps.
Transition period. As part of the transition, some transactions will be temporarily unavailable for a brief period in May 2022. But don’t worry, your money still will be invested during this time. Be sure to look out for updates on tsp.gov, in your inboxes, and in your mailboxes as we approach this transition period.
Finally, I have never been more certain of our commitment to fulfilling the FRTIB’s mission: to administer the TSP solely in the interest of you and your beneficiaries. We will continue to gather insights into your needs and expectations, and focus on providing tools, guidance, and benefits that improve your experience with the TSP, all with one shared objective—to help you achieve your retirement goals.
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