THE FOREIGN SERVICE JOURNAL | SEPTEMBER 2023 71 AFSA NEWS Class Action Lawsuit Against TSP On June 1, 2023, seven Thrift Savings Plan (TSP) participants filed a class action lawsuit, seeking damages after alleging they were harmed by the botched rollout of TSP’s “Converge” overhaul a year earlier, AFSA learned recently. The lawsuit, which is being handled by the firm Sauder Schelkopf, was announced through a press release that can be found at https://bit.ly/ SS-ClassAction. In June 2022, TSP introduced significant changes to its systems through a revamping known as Converge. Touted as an upgrade, the rollout did not go smoothly. Since then, TSP participants have reported a multitude of problems with the new system, including inability to access their accounts, failure to receive withdrawals and loans, and insufficient support in resolving complaints. Though the issues are separate from and unrelated to the State Department’s problems with its new payroll system and ongoing hitches with Employee Express, AFSA members have brought the TSP problems to our attention. AFSA has, in turn, raised them with the department and with TSP itself; but the problems persist. Sauder Schelkopf is interested in hearing from TSP participants who were negatively affected by the new system. Instructions on how to contact them are contained in the press release. The plaintiffs are demanding a jury trial and calling for an award of appropriate damages, as well as a declaration that the Federal Retirement Thrift Investment Board, Accenture Federal Services, and Alight are financially responsible for participants’ losses. AFSA is not party to this lawsuit and is unable to answer any questions about it. Anyone who would like to learn more should contact Sauder Schelkopf directly. TSP has more than 6.5 million members and more than $838 billion in assets. Though the exact size of the class is unknown, the plaintiffs said they “believe that the class consists of hundreds, if not thousands, of persons and entities that were harmed by defendants’ conduct.” n
RkJQdWJsaXNoZXIy ODIyMDU=