Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government
- Consolidating Mission-critical Systems
- Constituent Servicing
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Eliminating the Pitfalls: Steps to Virtualization in Government
- Federal Executive Forum
- Federal Tech Talk
- Government Cloud Brokerage: Who, What, When, Where, Why?
- Government Mobility
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mobile Device Management
- The Modern Federal Threat Landscape
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- Satellite Communications: Acquiring SATCOM in Tight Times
- Transformative Technology: Desktop Virtualization in Government
- Understanding the Intersection of Customer Service and Security in the Cloud
Shows & Panels
Roth TSP rollout delayed for DoD, other agencies
Friday - 4/13/2012, 8:31pm EDT
The Federal Retirement Thrift Investment Board (FRTIB) announced Wednesday that the Roth option, which taxes retirement contributions before it is put into savings rather than when it is withdrawn, would be available on May 7.
But on Friday, the Defense Finance and Accounting Service (DFAS), said it planned to "phase in" the option for the employees it serves. In June, the Roth TSP will be available to members of the Marine Corps. In July, it will be available to employees in the Department of Veterans Affairs and civilians working for the DoD. Army, Navy and Air Force members will have to wait until October.
Tom LeRock, spokesman for DFAS, blamed the delay on the complicated pay structure in the DoD, which includes civilian, active duty military and reserve component payroll systems.
"The phased implementation will ensure each customer's taxable wages and TSP contributions are computed accurately...The schedule will provide time to complete and thoroughly test the complex changes needed," LeRock said.
The delays have not been confined just to the DoD — employees in the Department of Health and Human Services, Executive Office of the President, Environmental Protection Agency and the Broadcasting Board of Governors will also have to wait until July to pick the Roth option.
A spokesman for the Interior Department said it would be ready for the May 7 rollout. Other agencies did not respond to requests for comment. Kim Weaver, a spokeswoman for the investment board, said her agency has not received an official count of which agencies will and will not experience delays.