House Bill Proposes Independent Inspector General for FRTIB
A newly introduced House bill aims to enhance oversight of the Federal Retirement Thrift Investment Board (FRTIB) by establishing an independent inspector general to monitor the federal government’s $937 billion retirement savings plan.
Congressional Delegate Eleanor Holmes Norton, D-Washington, D.C., introduced the Federal Retirement Thrift Investment Board Inspector General Act of 2025 on May 13, proposing an amendment to the Inspector General Act of 1978 to require the FRTIB—manager of the Thrift Savings Plan (TSP)—to have its own inspector general. The TSP serves 7.2 million federal employees and members of the uniformed services.
The bill has been referred to the House Committee on Oversight and Government Reform, where Norton, as a delegate, can introduce legislation and participate in debates but cannot vote. If enacted, the inspector general would be responsible for audits, investigations, and evaluations to ensure efficiency and prevent fraud, waste, and abuse.
Norton introduced the bill partly in response to the troubled rollout of a new TSP online system in 2022, which led to account discrepancies, lost beneficiary data, login issues, and long customer service wait times. “While I am pleased that many problems have since been resolved, the FRTIB should be held to the same accountability standards as any other federal agency,” Norton stated.
The FRTIB introduced modernized features in 2022, including a new participant login interface, mobile app, electronic document signing, streamlined online transactions, and a mutual fund window. However, the transition faced legal challenges when seven TSP participants filed a lawsuit in June 2023, accusing the FRTIB and contractors Accenture Federal Services and Alight Solutions of mismanaging the system overhaul.
In March 2025, the court granted motions to dismiss charges against the FRTIB and its board members, but motions to dismiss by Accenture and Alight were denied, keeping parts of the case active.