Call Anytime

The Federal Retirement Thrift Investment Board will offer its participants a toll-free telephone number to get information on their retirement accounts in the Thrift Savings Plan at any time of day or night.

The TSP, a 401(k)-style retirement plan for federal employees, is planning to launch the new service July 1, the agency announced. Residents of the United States, Canada, Puerto Rico and the Virgin Islands will call 1-877-968-3778 (1-TSP-YOU-FRST). The hearing impaired can call 1-877-847-4385 (1-TSP-THRIFT5). International callers still will need to call the old number, 1-504-255-8777.

Callers will be able to speak with TSP representatives on weekdays between 7 a.m. and 9 p.m EST. At all other times, TSP participants will be routed into an automated answering system that will be able to provide account or transaction information.

The primary call center is located in New Orleans and is operated by the Agriculture Department's National Finance Center. The relationship between the thrift board and the NFC has been strained, however, and board members have publicly complained about the service. In March, the TSP awarded a contract to Spherix, which will run a parallel call center.

According to TSP officials, the second call center eventually will pick up 50 percent of the load from the New Orleans center. It also will be located in Maryland, away from inclement weather patterns that could close the Louisiana facility.

TSP officials said Wednesday that the new toll-free line would be relatively inexpensive.

"Because the TSP receives no annual appropriations from Congress, and administrative expenses are borne exclusively by participants, we wanted to be certain that the service was affordable. [A new capability] associated with the establishment of our parallel call center gave us a new opportunity to investigate this enhanced service," said TSP Executive Director Gary Amelio. "When we did, we found that we could offer it for just pennies per minute."

Amelio also said that the new toll-free line was supported by the Employee Thrift Advisory Council.

"My earliest discussions with council members when I arrived a year ago included the issue of toll-free telephone service. While these organizations agreed with the need to keep plan costs low, they continued to apprise me of their members' interest in toll-free service," Amelio said. "When the opportunity arose to obtain the service cost-effectively, we were very receptive."

The Thrift plan has more than 3.2 million participants and $135 billion in assets.