On June 1, 2023, FeganScott and co-counsel filed a class action lawsuit on behalf of users of the Thrift Savings Plan (TSP) – a retirement savings and investment plan for government employees and military members – alleging that negligent, unlawful and unfair practices caused them to suffer financial hardship. The suit was filed against the five members of the Federal Retirement Thrift Investment Board, who are responsible for overseeing and administering the plan, Accenture Federal Services and Alight Solutions LLC.
According to the lawsuit, in November 2020, the Federal Retirement Thrift Investment Board awarded a contract to Accenture and Alight to take over administrative functions for the Thrift Savings Plan, including managing online services and processing applications for loans and withdrawals. Plaintiffs allege that since the TSP’s transition to Accenture and Alight in June 2022, TSP participants have complained of a host of problems with Accenture and Alight’s new system. Among other issues, Plaintiffs and TSP participants have reported being denied access to their accounts, denied access to historical information, denied the ability to control their assets, and forced to endure unbearable wait times for assistance.
The lawsuit seeks to represent all impacted users of the Thrift Savings Plan and aims to hold the named parties responsible for damages incurred by users as a result of complications experienced following the transition to the new recordkeeping system.