Letter to the editor
Thanks for the Bureaucratus column, "TSP system saga" [Federal Computer Week, Sept. 10, 2001].
I am a retired federal employee and got out of the Thrift Savings Plan.
I have always been amazed at the apparent "mismanagement" of the TSP. I
do not work for TSP in any way, so my comments are my opinions.
I have tried to understand why certain things happen and what is being
done to correct the problem. I agree entirely with Milt Zall's comments
in this column. Whoever was responsible for the first contract in TSP should
The second contract will not be completed with all of the features previously
promised by July 2002. They may have some of the features in place by then.
TSP officials will know by January 2002 which features will be ready and
which will not. They will not inform you.
I do not believe the TSP will ever, ever, allow the feature of daily
account transfers. I think those in charge will use the above contracting
situation to say they will not be able to offer this option.
This option would take the power to make such transfers from the control
of the TSP staff and put it in the control of federal employees. Some employees
would be able to be successful using this feature, and some would not be
successful, resulting in personal financial ruin. In addition, disasters
like we have currently would produce uncontrollable transaction volumes.
Federal employees deserve better. Keep your attention focused on this.
Name withheld by request