Retirement recordkeeping system postponed

The Federal Retirement Thrift Investment Board announced Tuesday that

software problems have forced it to delay rollout of a new federal retirement

recordkeeping system, slated for Oct. 1.

The Thrift Savings Plan (TSP) recordkeeping system will offer federal

employees new features including two new investment funds, daily valuation

of accounts and enhanced withdrawal benefits. TSP is the government's equivalent

of a 401(k) program.

American Management Systems Inc., which is developing the system, has

not made "significant progress in testing the system and in fixing numerous

software defects," according to the board. AMS recommended the deadline

for bringing the system online be delayed until spring 2001; however, a

new date has not been set.

AMS expects to encounter between 8,000 and 10,000 software bugs and

will need additional time to test and correct the problems, according to

the board. Meanwhile, core TSP functions will continue to operate.

AMS has now missed two implementation deadlines for the recordkeeping

system.

Featured

  • Defense
    The Pentagon (Photo by Ivan Cholakov / Shutterstock)

    DOD CIO hits pause on JEDI cloud acquisition

    Dana Deasy set cloud as his office's top priority. But when it comes to the JEDI request for proposal, he's directed staff to "pause" to compile a comprehensive review.

  • Cybersecurity
    By Gorodenkoff shutterstock ID 761940757

    Waging cyber war without a rulebook

    As the U.S. looks to go on the offense in the cyber domain, critical questions remain unanswered around who will take the lead and how clearly to draw the rules of engagement.

  • Government Innovation Awards
    Government Innovation Awards - https://governmentinnovationawards.com

    Deadline extended for Rising Star nominations

    You now have until July 18 to help us identify the early-career innovators and change agents in government IT.

Stay Connected

FCW Update

Sign up for our newsletter.

I agree to this site's Privacy Policy.