Legislation to Establish IG for the TSP

[tsptalk]

Legislation Reintroduced to Establish IG for the TSP

One Congresswoman still wants to establish an inspector general to oversee the TSP.

https://www.fedsmith.com/2023/03/23/legislation-reintroduced-establish-tsp-ig/

 

[nnuut]

NOT Again!

 

[evilanne]

I like this comment:

FedupFed
4 days ago
Problem: The new TSP website.
Solution: The old TSP website!

How much money did we pay to the old contractor to develop the website over many years, seems like we should own it by now. The problem with the new site is that it is COTS software that is a very dumbed down system compared to old system that was tailored to TSP. I don't think the IG or the GAO is going to fix anything

Looking at the membership for the FRTIB they all seem to be out of touch with no Federal Government Experience. IMO they should all be fired along with whoever was responsible for the selection/award of the new contractor.
https://www.frtib.gov/board-members/. Wonder if there are any conflicts of interest or if they are trying to intentionally push people out of TSP to private industry by this total Charlie Foxtrot.
I might be wrong but not updating for the new IRS life expectancy tables for January 2022 (old contractor) and readjusting payments under new contract with correct LE tables and splitting/miscoding 1099-R (new contractor) indicate systemic problems of mismanagement from the top down. Compliance with US Tax Code & IRS Regulations seems like a minimum requirement for both the contractor & government managing the program.

 

[jonfresno]

With you on the public/private point. CGI is taking over every aspect of the DOJ administration wing. They muscled in with a crappy COTS financial accounting system to replace the one developed in house by govies, then upper management hired CGI employees who are essentially embeds, and gave them contracting and procurement authority.

Can't remember the name of the company who used to handle facilities management before the pandemic evacuation orders(Mailroom, other daily responsibilities), but after the pandemic we come back to the building, and lo and behold, it's now folks with CGI shirts.

I have no doubt FRTIB were either sold a bill of goods, or members potentially benefited from this decision.

I like this comment:


How much money did we pay to the old contractor to develop the website over many years, seems like we should own it by now. The problem with the new site is that it is COTS software that is a very dumbed down system compared to old system that was tailored to TSP. I don't think the IG or the GAO is going to fix anything

Looking at the membership for the FRTIB they all seem to be out of touch with no Federal Government Experience. IMO they should all be fired along with whoever was responsible for the selection/award of the new contractor.
https://www.frtib.gov/board-members/. Wonder if there are any conflicts of interest or if they are trying to intentionally push people out of TSP to private industry by this total Charlie Foxtrot.
I might be wrong but not updating for the new IRS life expectancy tables for January 2022 (old contractor) and readjusting payments under new contract with correct LE tables and splitting/miscoding 1099-R (new contractor) indicate systemic problems of mismanagement from the top down. Compliance with US Tax Code & IRS Regulations seems like a minimum requirement for both the contractor & government managing the program.

 

[evilanne]

Interesting Letter
https://www.barfieldfinancial.com/n...-thrift-investment-board-from-dan-jamison-cpa