May 12, 2026

Jim Kaplan says the Thrift Savings Plan is focused on making retirement rollovers easier and less stressful for federal employees and service members. During his conversation on Fed Gov Today, Kaplan explains how the TSP’s concierge service helps participants move retirement savings from private-sector accounts into their TSP accounts while reducing the complexity that often comes with the process. He says many participants are drawn to the TSP because of its low costs and strong returns, and they want a simpler way to consolidate their retirement savings.

Kaplan describes the concierge service as a hands-on support system designed to guide participants through every step of a rollover. Specialists work directly with participants and their previous retirement account providers, helping gather paperwork, complete forms, and finalize transfers. He notes that about 70 percent of people rolling outside retirement funds into the TSP use the concierge service. In the first quarter of the year alone, participants rolled more than $627 million into TSP accounts, including more than $220 million in March.

He explains that the rollover process remains challenging across the financial industry because retirement funds must move carefully between tax-protected accounts. While the TSP is working toward a more electronic process in the future, paperwork is still required today. Kaplan says the agency recognizes that participants are busy and want reassurance that everything is handled correctly, which is why the TSP focuses heavily on improving participant experience and simplifying as much of the process as possible.

Cybersecurity is another major topic during the interview. Kaplan points out that cybersecurity ranks as the TSP’s highest enterprise risk, not because the agency lacks protections, but because threats continue to grow across the world. He says the TSP takes its responsibility to safeguard participant accounts very seriously and invests significant time and resources into strengthening defenses. Kaplan highlights the work of the agency’s cybersecurity leadership and notes the organization’s strong FISMA ratings as evidence of its commitment to protecting participant information and retirement savings.

Kaplan also discusses the importance of maintaining trust with participants. He says the TSP focuses on communication and transparency, especially during periods when participants have questions about government changes and how those changes could affect their accounts. He emphasizes that participant funds are protected by law and held in trust. According to Kaplan, strong communication and responsive customer service help maintain the TSP’s high participant approval ratings, which currently sit around 94 to 95 percent.

The conversation also turns to practical retirement planning. Kaplan encourages participants to establish direct deposit connections between their TSP accounts and bank accounts early, even if they are not planning to withdraw funds soon. He explains that the system includes a seven-business-day waiting period to help prevent fraud and unauthorized access.

Finally, Kaplan highlights differences in how younger and older participants approach retirement savings. He says younger federal employees and military members participating in the Blended Retirement System are increasingly choosing Roth TSP accounts because they benefit from paying taxes earlier in their careers while in lower tax brackets. Kaplan explains that these participants can then enjoy tax-free withdrawals later in life after decades of growth. Older participants, meanwhile, often continue to favor traditional tax-deferred retirement accounts because of their current tax situations. Throughout the discussion, Kaplan emphasizes that the TSP aims to provide flexible options that support participants at every stage of their careers.