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Return to Article: TSP leaders face Hill criticism over new computer system

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  I can almost quote Mr. Silviouis verbatim: I retired from the federal government in January. On June 30, 2003, I sent in a request to withdraw my TSP funds following the guidelines on the TSP Web page. Although the FRTIB Chairman says new phone lines are working and additional people are working the backlog, I still cannot get to the TSP or find out the status of my request. Two months and still no satisfaction. It has become very apparent that the leadership of this organization is more focused on making their "system" work than providing good quality customer support. "They have your money and don't see any need to be accountable to you, the customer."

  Linda Maglothin Posted August 8, 2003 1:37 AM
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  I retired from the federal government in January. On May 28, 2003 I sent in a request to withdraw my TSP funds following the guidelines on the TSP Web page. I have met nothing but stone walls and confusion in my many attempts to find out the status of my request. Although the FRTIB Chairman says new phone lines are working and additional people are working the backlog, I still cannot get to the TSP or find out the status of my request. Two months and still no satisfaction. It has become very apparent that the leadership of this organization is more focused on making their "system" work than providing good quality customer support. "They have your money and don't see any need to be accountable to you, the customer."

  Laurence Silviouis Posted July 28, 2003 7:27 PM
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  Our govt's motto should be: "If it ain't broke, then break it."

  GovExec.com reader Posted July 28, 2003 12:57 PM
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  Please have someone to answer the phone. We understand the back log. We don't mind waiting. Some people at my job put in a loan application at the end of May, and have still not heard anything from the TSP office. You can never reach them by phone.I sent in a check to payoff my loan by Express mail, it was received on 7/21/03. Up to this day my loan still there, it has not been paid off. The private industry can do a much better job than this. It is very frustrating.

  ALAN E. MIDDLEMAN Posted July 25, 2003 12:02 PM
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  Finally got in today to check on an outstanding loan and it shows the outstanding balance as larger than the original loan. Apparently, they do not have time to do T&A on this system. Makes one wonder if our account balances are really as stated.

  GovExec.com reader Posted July 25, 2003 11:59 AM
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  As an IT system developer with over 20 years experience, I know that the vast majority of IT System failures are due to an inability to properly communicate IT System Requirements. Properly specifying system requirements was the responsibility of the TSB Board. Changes should be made in that area. Get a board that has a clue. I just hope the system holds together until I can get my money out of it in a couple of years.

  Stephen Bashore Posted July 25, 2003 11:00 AM
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  If I was a guessing man the facts regarding the weaknesses of the system implemented were evident a long time ago!! Expediancy of implementation without the use of unbiased assessment seems to lead us down these expensive paths. So it's no wonder some of the basics associated with access to the system are overlooked!!Any system implemenation needs to be evaluated by folks who are not as computer literate as the system design engineers!!! Wouldn't this elemental approach have avoided a good number of present complaints?

  GovExec.com reader Posted July 25, 2003 9:27 AM
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  "The TSP has hired additional staff to help with a backlog of data entry work and has installed extra telephone lines to handle the volume of calls . . .

  In 1997, TSP officials decided to upgrade the record keeping system to allow . . . participants to get account balance updates each day, transfer money from one fund to another and change the amount of their monthly payouts after they retire . . . Two contractors and millions of dollars later the system was launched on June 16 - only to stumble"

  This is absolutely ridiculous and the directs and staff involved should be fired! It does not take six years to do this. Also, there is no value added to see balances daily and the other tasks can be conducted by mail or telephone. This system has little value added. Now the fund participants are paying the millions to develop the system (should sue the contractors for nonperformance to recover the millions!) and the annual expenses are increased (more people and telephones), which are deducted from the return on the fund! This board is stupid and should be eliminated. Fund management should be on a three year bid basis with qualified money managers and the bid selection should consider the net return provided.

  GovExec.com reader Posted July 25, 2003 6:49 AM
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  I too looked forward to the new system making things better. Being an over 50 CSRS employee, I wanted to pay off two loans and prepare for the "August" increase in my contribution to ensure a little more income in retirement (only 4 short years away).

  I mailed the first check (April, early May)and waited over a week, checking my account daily. I finally called the TSP, and they said that I should have Express Mailed my check to insure "prompt" payment. It took two additional weeks to visibly see that the payment was processed. I paid over $200 in payments (which were finally refunded in June).

  Just when the system changed, I was ready to mail my payment for the second loan. I tried for over a week to find out my current payoff with no luck. Finally one morning at 5am, I found the amount by calling the TSP number. I quickly got the check ready and mailed it via Express Mail on June 17. It was received by the TSP on Jun 18. Then it took until July 16 for the TSP to acknowledge that they had received my check and paid off my loan. Meanwhile I paid over a $150 in payments on a paid off loan. And they are still taking the money out of my account.

  To make matters worse, since I'm a DoD employee, I will not be able to start catchup contributions until after September 7. Instead of paying <$200 per payperiod, I will need to pay nearly $300 to accumulate the $2,000 for 2003. I feel cheated.

  I can no longer read the TSP statements with any intelligence. I can't tell if I'm actually gaining or losing money. My most recent statement is for May. I don't even know how soon I will receive another statement. This is totally disappointing!

  GovExec.com reader Posted July 25, 2003 6:29 AM