TSP Compiles a List of June's New Features

This article was originally published here

All TSP participants will need to create a new login for the new My Account after the transition in June. This one-time setup process will guide you through the steps of verifying your identification, creating a username and password, updating your contact information, and securing your account. You’ll notice a new design, additional tools, and expanded functionality to help you manage your account once you log in to My Account:

– The configurable, user-friendly homepage will provide rapid access to the information you want to see first.

– You’ll be able to see all the information for both accounts in one spot if you have both a civilian and a uniformed services account. This includes your overall total amount.

– You’ll have the option to use your device’s identification software, such as fingerprint access and facial recognition, to add an extra layer of security when you access My Account from your mobile device.

– If you need tailored assistance, you can utilize our virtual assistant, AVA, to ask account-specific inquiries and connect directly to a Thrift Line Representative for a live chat session during business hours.

The window for mutual funds

TSP participants who want more investment freedom may look into the mutual fund window. You can choose from a pool of over 5,000 mutual funds if your account fulfills specific qualifying conditions. This flexibility comes at a cost, as it does with most mutual funds:

TSP participants who do not utilize the mutual fund window pay a $55 yearly fee to ensure that using the mutual fund window does not increase TSP administration expenses.

The annual maintenance charge is $95

Distributions and withdrawals

The process for requesting a withdrawal or distribution will be more efficient and time-saving with the improvements coming in June:

– We’re providing the opportunity to use electronic signatures and submit many requests online, just like we do with other transactions.

Support choices have been expanded.

With our increased support options, you’ll have more opportunities to have your issues answered starting in June:

– On our website and in the TSP Mobile App, you’ll have 24/7 access to help through AVA, a virtual assistant (coming in June). AVA will provide a secure place for you to ask questions regarding your account and, if necessary, will link you to a live ThriftLine agent through chat during office hours.

Online transactions that are quick and easy

We’re providing new ways to perform most transactions and requests online to save you time and reduce paperwork:

– You’ll be able to request transactions, upload forms and documents, and electronically sign your name in the new My Account.

Other useful information

You’ll be able to submit beneficiary information online through a new tool in My Account or by calling the ThriftLine. There will be some modifications to the way beneficiaries are designated:

– You’ll be asked to confirm beneficiary information once a year to ensure it’s accurate.

– You can easily designate equal distribution to beneficiaries using the online option for providing beneficiary information through My Account, without having to list precise percentages unless you choose to.

Contact Information:
Email: [email protected]
Phone: 2129517376

Bio:
M. Dutton and Associates is a full-service financial firm. We have been in business for over 30 years serving our community. Through comprehensive objective driven planning, we provide you with the research, analysis, and available options needed to guide you in implementing a sound plan for your retirement. We are committed to helping you achieve your goals. Visit us at MarvinDutton.com . Tel. 212-951-7376: email: [email protected].