Federal Oversight Causes Lock Up of Retirement Accounts

Retirement Accounts LOCKED After MASSIVE Federal Oversight

(AmericanProsperity.com) – In 2020, the federal government gave Accenture a contract to recondition the Thrift Savings Plan (TSP) and make it similar to that of a 401K from a private employer, but the changes left the website a disaster. The same company was successful in fixing the Affordable Care Act’s website in 2014, after the initial launch crashed miserably, but Accenture seems to be having some issues fixing this mess. As a result, federal employees can’t access their retirement funds.

Federal Tech Screw-Up Leaves Billions In Retirement Money Locked Up https://t.co/4zqnkWcZOA pic.twitter.com/DMFXmerb9d

— Daily Wire (@realDailyWire) June 7, 2022

According to The Daily Wire, around 6.1 million federal employees can’t access their retirement funds due to Accenture’s botched revamp of the TSP, which managed an estimated $644 billion. Employees claim once they’re on the new website, they have to recreate their accounts. That alone doesn’t seem like an issue, but the process is riddled with problems, such as drop-down selections below the visible screen, flickering graphics as users scroll the page, and even redirects to blank pages.

One former employee, David Hicks, said his pregnant wife may have to go back to work in order for their family to afford items they need, asserting everything is too expensive. The former employee noted that if he could access his TSP, he’d be able to cover those expenses.

Hicks isn’t alone. Many federal employees, both current and former, can’t access their accounts or withdraw any funds. With the volatility of the market, some users are outraged they can’t change their investments. They could potentially lose everything due to this mishap.

~Here’s to Your Prosperity!