TSP progress on 2-factor authentication announced

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Info_Hound
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TSP progress on 2-factor authentication announced

Post by Info_Hound » Thu Nov 01, 2018 10:09 am

News from the TSP, they plan to add 2-factor authentication for TSP participants. However it won't be available until late next year at the earliest.

https://federalnewsnetwork.com/tsp/2018 ... ency-says/

"The Federal Retirement Thrift Investment Board, the agency that administers the TSP, is implementing two-factor authentication for participants who access their online accounts.

The agency hopes to have it in place by the end of the fiscal year, TSP spokesman David Toro said in an email to Federal News Network.

The project is a priority for the FRTIB, because participants have been asking for two-factor authentication and tighter security controls on their online TSP accounts, Toro added.

Adding two-factor authentication may be particularly important to TSP participants, especially given that many of them may have been impacted by two significantly larger data breaches at the Office of Personnel Management back in 2015."

Has anyone heard how they are progressing on rolling out the new TSP withdrawal options?

daheld
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Re: TSP progress on 2-factor authentication announced

Post by daheld » Thu Nov 01, 2018 10:59 am

Been hoping they'd do this. As a fed, it amazes me that there's 2FA for our internal training system (TMS) that just has mandatory yearly trainings and no important employee information at all, but not for TSP.

FedGuy
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Re: TSP progress on 2-factor authentication announced

Post by FedGuy » Sat Nov 03, 2018 8:31 am

I'm very glad to hear this. I asked TSP about implementing 2-factor authentication in 2014 or 2015. At the time, they told me they were working on it, but I've heard nothing since. Thanks for the update!

MichDad
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Re: TSP progress on 2-factor authentication announced

Post by MichDad » Sat Nov 03, 2018 10:03 am

Info_Hound wrote:
Thu Nov 01, 2018 10:09 am

Has anyone heard how they are progressing on rolling out the new TSP withdrawal options?
I received an email from an employee at the TSP in mid to late October that the Federal Retirement Thrift Investment Board remains on track to implement its liberalized TSP withdrawal rules by September 2019.

MichDad

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Bruce
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Re: TSP progress on 2-factor authentication announced

Post by Bruce » Fri Jan 03, 2020 1:30 pm

TSP 2 factor authentication is up and running, and now mandatory since Late December 2019.

Downside is you no longer get automated pull of that info to your Vanguard outside accounts, using the account aggregator tool at Vanguard, as 2 factor authentication defeats that automated pull.

If anyone has a workaround beyond Periodic Manual entry of TSP info into “outside accounts“ on the Vanguard account tracker, I would like to learn about it.

Think also about the two-step authentication process now used by the TSP and many financial institutions. Suggest Consider NOT using a work-issued phone as the confirmation number, so in case the account holder is disabled or dies before retirement, the surviving spouse can still access the authentication code required to log into the site.

Happy New Year and New Decade!
Bruce | | Winner of the 2017 Bogleheads Contest | | "Simplicity is the master key to financial success."

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