The TSP has announced an update to the “My Account” home page portal for account holders to monitor their investments and make transactions, in what it terms as a “response to feedback about what participants prefer to see first when logging in.”
It said features are to include a new layout for the account summary to “give you the ability to easily view your account balance, rate of return, year-to-date contributions (including any agency/service contributions), and investment mix”; and an expanded navigation menu to “help you find your account activity, balance history, transactions, and documents (such as quarterly statements).” That is to include a sub-menu to track fund performance, manage beneficiary designations and set up direct deposit, among other features.
Other changes will include features to call attention to new messages in the secure mailbox, a list of to-do actions and a listing of recommended videos and other resources. Other pages within My Account and the TSP mobile app are not changing, it said.
Many investors continue to express dissatisfaction with the TSP’s changes to its website that were linked to the launch of a new behind-the-scenes operating system last June. Complaints about the level of service under that system also continue, although below the levels of its early months, when there were widespread complaints about difficulties with getting into accounts and with customer service.
The most recent focus of complaints involved a glitch that resulted in some 2,000 retirees not receiving distributions that the tax code required them to take for 2022 before the end of the year.
Citation: FEDweek, published May 10, 2023