1. United States
2. Mich.
3. Letter

I urge that you investigate the Thrift Savings Plan. As I’m sure you know, this is the only individually-funded retirement investment program available to US Government employees including uniformed military members. The TSP is rife with problems. First, when the new website was launched in May 2022, it wiped out all past deposit and balance data. I do not know what the effect will be when withdrawals are made since the cost basis does not appear to be trackable. Second, TSP is frequently “down for maintenance” for extended periods. It has been down for 48 hours at this point, and that is not uncommon. Third, TSP customer service is non-existent. I have tried multiple times to reach someone and have waited on hold for hours. I have had investments with Vanguard for 4 decades. I have never - even one time - encountered even one of these issues. If Vanguard HAD any of these issues, I am confident Congress would launch an investigation. I expect criminal charges would be filed. Why is that NOT the case for TSP? There are more than 7 million TSP participants with nearly $1 Trillion invested. For extended periods, none of these users have access to basic information about their investments nor do they have the ability to withdraw money. No one has access to information before May 2022. I believe TSP either needs to be contracted out to a company that can handle it or TSP leadership needs to held accountable - really accountable - to function to the same standards as other large investment organizations. What Federal employees have now - the only choice they have now - is beyond inadequate. I appreciate your time and attention to a matter that affects millions of people.