The Thrift Savings Plan (TSP) has a slightly smaller budget for fiscal 2022. The Federal Retirement Thrift Investment Board approved the budget of $496 million for the next fiscal year.
- Kim Weaver, director of external affairs at the Federal Retirement Thrift Investment Board, said the board’s transition to a new recordkeeping platform, which will go live next summer, is enabling it to decrease the TSP’s fiscal 2022 budget.
- The board’s priorities for fiscal 2021 were resiliency and cybersecurity; the goal for fiscal 2022 is to focus on participants as TSP rolls out a mobile app and new online capabilities, said Weaver.
- Weaver said the board is also updating its financial software, which will go live in January, and revising agency laptops.