The Thrift Savings Plan Explains Its Transition Specificities.

The Thrift Savings Plan (TSP) provider explains that it now uses a current record-keeping system, and its participants won’t have to do anything to prepare for its transition. This implies that account holders will have their money intact in the TSP funds they chose, and their TSP investment will remain the same after the transition period.

All investors have to set up new login information before accessing their My Account page despite the record-keeping system clarification. This step is necessary because of the new system security features. The TSP administration said it would notify participants when this new feature becomes active in an online posting. The notification will contain detailed guides and steps to maximize the functionality of this feature, which will go live in June 2022.

The TSP administration said that due to the blackout period when ongoing and existing investment allocations will change, account holders should periodically review their current investment choice and ensure it matches their retirement goals. You should note that the blackout period will occur between May 26 and the early week of June. 

To get the best result from TSP, you need to establish the right savings strategy and retirement goals that meet your retirement needs. To complete your retirement goals, you need to stick with your chosen plan. After selecting the best long-term strategy, you should only make adjustments after thorough consideration.

The TSP administration also notes that your current messages and documents on the My account page will not be transferred to the current system. You should save previous messages in an easily accessible area in your records and download a copy of historical statements. You can contact the Thriftline if you need your historical statements, and they will be sent to you via mail. After the transition, your new statements will be available on the My account page.

Contact Information:
Email: [email protected]
Phone: 7242723902

Bio:
Craig E. Vukich is a 35 year retirement specialist and Financial Advisor who has helped thousands of clients all over the country with their investment portfolios and retirement strategies.
In that time, Craig has also helped seniors and retirees with their Medicare options as healthcare continues to be one of the most confusing issues facing people today.
Personally, Craig lives in Beaver Falls, Pa with his beautiful wife and childhood sweetheart Barb and their lovely daughter Shalyn.
Craig is a graduate of Westminster College which is about an hour north of Pittsburgh. Craig is a recreational golfer and traveler and Pittsburgh sports fanatic.

Disclosure:
This information is not a complete analysis of the topic(s) discussed, is general in nature, and is not personalized investment advice. Nothing in this article is intended to be investment advice. There are risks involved with investing which may include (but are not limited to) market fluctuations and possible loss of principal value. Carefully consider the risks and possible consequences involved prior to making any investment decision. You should consult a professional tax or investment advisor regarding tax and investment implications before taking any investment actions or implementing any investment strategies.