The Thrift Savings Plan (TSP) has set up a “current known issues” page to detail some of the more frequent problems that plan participants have encountered since the transition to the mutual fund window and rollout of other new features that launched at the start of June.
A number of problems have been reported, not the least of which are unusually long hold times to call TSP customer service to get assistance with things such as setting up the new My Account feature. A number of FedSmith readers have said that they have run into problems with the transition process, and a number of other reports have been posted elsewhere online such as on social media or in discussion forums.
In response to the ongoing problems and high call volume to its customer support line, the TSP posted the new “current known issues” page this week. It said in a June 9 tweet, “ThriftLine call volume is currently very high, which means hold times are longer than normal. If you need help with the new My Account, please read through the list of known issues to see if the information you need is here.”
A statement on the TSP website reads, “ThriftLine call volume is currently very high, which means hold times are longer than normal. If you need help with the new My Account, please read through the list of known issues to see if the information you need is here. You can also ask the virtual assistant, AVA, for answers to most common questions. Thank you for your patience.”
A number of TSP participants have reported waiting on hold for hours before finally getting through to a customer service representative. Even then, they do not always get the problem resolved.
TSP spokesperson Kim Weaver told the Daily Wire this week, “We’re well aware that some people are having trouble creating a new login, but roughly 85% of people who have attempted to create a new account have been able to do that. We’re seeing people doing withdrawals, making contributions. I’m not diminishing the frustrations of people who are having problems, because it is frustrating. Had I been one of those people, I’d be more than irritated.”
According to Federal News Network, the TSP has added 185 new customer service representatives to help address the surge in the number of calls.
Current Known Issues
The new page outlines some of the more frequent problems and possible solutions for them. As of the time of this writing, this is a brief summary of what the page contains. Be sure to check the TSP website for the latest information. Note also that the page states that more details about other known issues are available after you log into My Account on the TSP website.
New Login for the My Account Feature
As part of the transition process, all TSP participants have to complete a one-time process to set up a new login for the new My Account. This apparently has been one of the greatest sources of problems for a number of TSP participants.
According to current issues page, sometimes one’s specific web browser can be a problem in completing the setup process. It suggests trying a different web browser if problems are encountered. The TSP states:
If you’re having trouble with online setup for the new My Account, try a different Internet browser. Some participants have reported success after switching browsers when the first browser didn’t work. Also, if you’re using a browser with an autocomplete tool, try turning off autocomplete before setting up your new login.
We’re working on resolving these issues so that account setup and access remains simple and secure for everyone.
Managing My Account Login Information
The TSP states:
After you set up a new login to the new My Account, you’ll use the username, password, and two-factor authentication method you set up to access your account. If you need to change your password or two-factor authentication method, you can log in to the Online Account Management portal to change these settings. Use your My Account username and password to log in to this separate account management portal.
If you’ve forgotten your My Account password, you can reset your password online.
If you’ve forgotten your My Account username, check your email history from when you set up your new My Account login.
Historical Account Information
The TSP says that historical account balances will be available starting in mid June. It states, “When you log in to My Account, you can access your year-to-date contributions for 2022. By mid-June, you’ll be able to access ending account balances for the years 2012 to 2021.”
It also states:
You can find account statements that post after June 1, 2022 in the Secure Participant Mailbox in My Account. You’ll also receive your annual statement by mail. If you would like to receive all your statements by mail, you can change your communication preferences in My Account or by calling the ThriftLine.
Your other historical documents and messages prior to June 1, 2022 did not transfer to the new My Account from the legacy system. If you need access to your historical account documents, you can call the ThriftLine.
What Has Your Experience Been?
If you have been through the new account setup process on the TSP website, feel free to share anything you’ve learned that may be helpful to others in the comments below about using the new TSP website and/or setting up the new account login.
