New TSP Website - Absolutely Awful Implementation

[schenbew]

Has anyone with a TSP account checked out the "new and improved" TSP website yet? If you do, be sure to first pour a stiff drink and buckle into a 5 point harness before venturing in, because it's guaranteed to be a wild ride. I was extremely disappointed, and am now leaning strongly towards transferring all of my TSP $ to either Vanguard or Fidelity.

Here are my initial reactions to this new and "improved" TSP website:

1 - One must create a new login and re-validate all info. Inconvenient, but understandable. I was able to do so during a lengthy process...MANY on-line comments from those who have not been so successful.

2 - Historical info. There is none...apparently, TSP time has begun anew starting May 26th, 2022 - no info before this is available, as if the earth and universe were created 2 weeks ago. No reason given for this inability to access older statements and account info.

3 - Account info. To get any detailed account info, you MUST request a document, using start and end dates, which then creates a document in your Inbox, forcing you to navigate to your inbox and then download the PDF document. TSP makes the Vanguard site, with all its warts and imperfections, seem like an online utopia!

4 - Website design. The TSP site was clunky before, but it worked. TSP has now managed the incredible feat of actually moving backwards with a more un-intuitive interface (reminds me of my 1990's era Prodigy and AOL experiences...) and a website that occasionally drifts off to sleep like your drunk uncle at Thanksgiving. Wow, just wow, and not in a good way.

5 - Beneficiary info. There is no info online anymore. No mention of if and when it may reappear. Wait till I tell DW....

Conclusion:

The new TSP site "improvement" effort must have had Wally from Dilbert as the overall Project Manager lead, and a focus group of Amazonian hunter-gatherers who never saw a computer before in their lives providing user feedback to the programmers. Nothing else can explain the utter lack of uselessness they've managed to create.

Perhaps related to all this, the new TSP DOES offer mutual funds outside of the stand TSP funds, though they charge a premium for it. When the page with additional info on this new "Mutual Fund Window" offering finally loads on my computer, I'll venture back to ER.org and add another post with the details on how it works.

 

[W2R]

I've been there, and finally got my new login, password, login questions, (etc) figured out. My main complaint is that I haven't figured out yet how to see what is IN my account. I can find the total dollar value, but not the number of shares (all G Fund) or share price. Otherwise I never do much there - - just want to see what's in there. I withdraw via equal monthly payments.

I will never understand why organizations with a perfectly good, time tested computer interface for customers to use, feel compelled to change it to something snazzy but harder to use.

 

[Koolau]

I've been there, and finally got my new login, password, login questions, (etc) figured out. My main complaint is that I haven't figured out yet how to see what is IN my account. I can find the total dollar value, but not the number of shares (all G Fund) or share price. Otherwise I never do much there - - just want to see what's in there. I withdraw via equal monthly payments.

I will never understand why organizations with a perfectly good, time tested computer interface for customers to use, feel compelled to change it to something snazzy but harder to use.

I'm not eligible for TSP account, but Megacorp's "retirement" site (Pension, 401(k), health system - well, in the old days, it's gone now, etc.) is really difficult to use until you figure it out - just in time for them to tweak it. Grrrrr!

 

[W2R]

I'm not eligible for TSP account, but Megacorp's "retirement" site (Pension, 401(k), health system - well, in the old days, it's gone now, etc.) is really difficult to use until you figure it out - just in time for them to tweak it. Grrrrr!

Isn't that just typical! Seems like webpage designers feel like that's the cool thing to do.

And yeah, now that you mention it, I am thinking that probably I need to spend more time figuring it out. For me it really seemed hard to navigate through the new webpages.

 

[f35phixer]

I've been there, and finally got my new login, password, login questions, (etc) figured out. My main complaint is that I haven't figured out yet how to see what is IN my account. I can find the total dollar value, but not the number of shares (all G Fund) or share price. Otherwise I never do much there - - just want to see what's in there. I withdraw via equal monthly payments.

I will never understand why organizations with a perfectly good, time tested computer interface for customers to use, feel compelled to change it to something snazzy but harder to use.

WR2, I downloaded my account and page 3 shows activity details by fund. shows price etc....

I'm getting out and roll over to my fidelity account since I am retired now.

 

[Koolau]

WR2, I downloaded my account and page 3 shows activity details by fund. shows price etc....

I'm getting out and roll over to my fidelity account since I am retired now.

I know very little about TSP but I have heard that Fund G is good to have access to. For no other reason than that, I'd stay "attached." I think my 401(k)'s GIF is similar to Fund G, but I've heard that Fund G is tops in paying decent interest. Since I have no idea what I'm talking about within TSP, YMMV.

 

[FLSUnFIRE]

Agree, it's crappy. I found the breakout of my funds but it is formatted in such a way that I have to scroll to see it all instead of a concise table on the old site. I'll give them some time, I'm sure they rushed it out after screwing around until the deadline loomed. So glad I no longer work for the Gov't any longer... it just breeds incompetence.

 

[f35phixer]

I know very little about TSP but I have heard that Fund G is good to have access to. For no other reason than that, I'd stay "attached." I think my 401(k)'s GIF is similar to Fund G, but I've heard that Fund G is tops in paying decent interest. Since I have no idea what I'm talking about within TSP, YMMV.

Thanks Kool

Was going to leave pretty good chunk in the G fund. TSP has some problems with leaving monies in TSP, if say heaven forbid both DW and me die in accident. I believe DD would be required to withdrawal that money..

 

[Lakedog]

I guess I was expecting too much but agree that the new TSP website is terrible. I have found no way to even see what the G Fund interest rate is for the current month. It was 3% for May and I expect 3% for June. The old TSP website was way better than my first impressions of the new one. If this is as good as it gets (maybe they are not finished?), I will probably move those funds to an IRA someplace.

 

[nate2953]

Agreed.

With the old website, the information was all readily there and required maybe 1-2 clicks at most.

With the new “user intuitive” website, I have to really think about where they would hide the specific information I am looking for. Half the time I guess wrong where the information is hidden, or by the time I finally drill down to it and accidentally stumble on useful information, I end up forgetting what sequence of tabs I used

Admittedly I’ve only used the new site on my phone, so that may add a layer to it. However, with the old TSP website, the mobile version was fine.

Perhaps the new TSP app will be better….?

 

[Dreamer]

I have not used it yet. Based on everyone's feedback, I think that I will wait awhile. Hopefully, they will tweak it.

 

[zinger1457]

Never used the old site very much, just to check balances. Maybe I have low expectations but seems OK to me on first glance, was able to find the information I was looking for (funds, shares invested, share price, rate of returns for period, 1Y 3Y, 5Y) fairly easy.

 

[SloHan]

Absolutely the new TSP site is frustrating , spent an hour or so this morning setting up Login and just noodling around trying to figure out how to navigate. I did look at the mutual fund window and thought the fees were high. I won’t close the TSP account because the G fund is the closest thing I have to stable value fund.

 

[SnowballCamper]

I think the new site is crap too. Rebalancing on the old site was super easy, just enter the AA you want and it did the rest. Now it wants the % you want to move from any fund to another.

Someone probably complained about the old way...

EDIT: Apparently I was wrong...the old way of rebalancing is still there. It's just the hassle of finding things now...

 

[jerryo]

I'm waiting to see how it works with RMDs and life expectancy based payouts!

Says the monthly payments will be made each month on the 15th and that the RMDs will be recalculated based on 5/31 balances (which will result in under withdrawals do to market decline since 12/31.). They say they'll make this up with a special withdrawal in December...but I've already added a calendar notice to check (to avoid 50% penalty).

Like I said, we'll see.....

 

[yakers]

Not loving it, got on in a straightforward way but why oh why can't it pick up DW as beneficiary from old system? Went to add her and I have to have a witness(!!!?) Well, she will get everything through a will anyway.

 

[W2R]

OK, I feel a tiny bit better about the new TSP website.

1. LOGIN: Today I managed to log in on the very first try, and also it did the two-factor authentication just like before. This was a HUGE relief and the login difficulties I had yesterday are now gone. Whew.

2. GETTING SHARE PRICE, SHARE NUMBERS, AND TOTAL $: I figured out how to obtain and download a PDF statement that included share price (which they call "unit price") and number of shares (which they call "closing units").

When I multiplied these two, I got the same number as my total balance, which they call "closing balance" so I feel like my understanding of the statement is verified. Really the only confusing part of that was that what I would call shares, they call units. Wish I could still just look at it on a webpage rather than download, but I feel like I am doing better than yesterday.

3. BENEFICIARIES: I did find the beneficiary page which showed that I have none; this is OK for now and I may just do what Yakers is planning, and leave it in a will.​

________________________________________

Going back to the page at a time when I felt no pressure to rush, and with the reassurance that other forum members had found the info I wanted, was extremely helpful. Thanks, everyone!

 

[zinger1457]

2. GETTING SHARE PRICE, SHARE NUMBERS, AND TOTAL $: I figured out how to obtain and download a PDF statement that included share price (which they call "unit price") and number of shares (which they call "closing units").

When I multiplied these two, I got the same number as my total balance, which they call "closing balance" so I feel like my understanding of the statement is verified. Really the only confusing part of that was that what I would call shares, they call units. Wish I could still just look at it on a webpage rather than download, but I feel like I am doing better than yesterday.

[

You can get share price, # of shares, and balance all on one web page without downloading a PDF. From the 'Savings and Retirement' drop down menu on top select 'Investments'. It shows each fund you own and includes the information listed above.

 

[W2R]

You can get share price, # of shares, and balance all on one web page without downloading a PDF. From the 'Savings and Retirement' drop down menu on top select 'Investments'. It shows each fund you own and includes the information listed above.

Thank you! I'll go try it now.

Edited to add!! EXCELLENT!! I got exactly what I wanted.

My problem was that I needed to scroll down to get to it, and didn't realize that. Thanks again.