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The Federal Retirement Thrift Investment Board (FRTIB) has gone live with its Financial Systems Modernization platform, which will replace multiple legacy systems for the Thrift Savings Plan (TSP).

  • Kim Weaver, director of external affairs for FRTIB, said the modernization will not have a direct impact on TSP members but they will benefit from the increased efficiency and reduction of spending on legacy system maintenance.
  • She said the transformation, which replaced four old systems with three new, integrated systems, was an “enormous lift” that took about 15 months and a “huge achievement” for the chief financial officer.
  • The board is starting a communications campaign this month for Converge, TSP’s recordkeeping system transfer, that will explain the program and inform participants of what to expect as it goes live this summer, said Weaver.

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October 2022
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