News Stories. The Blended Retirement System opt-in enrollment period closed at midnight on Dec. 31, 2018, capping off the successful roll-out of a new retirement system for members of the uniformed services.
Skip to main content (Press Enter). The Blended Retirement System combines elements of the legacy retirement system with benefits similar to those offered in many civilian 401 (k) plans. The opt-in period for the majority of service members closed Dec. 31, 2018.
If you have further questions about the Blended Retirement System or financial planning, please contact your local pay or finance office. DFAS myPay (Army, Navy & Air Force) TSP: Coffee Cup Contribution Plan
Blended Retirement to take effect Jan. 1. One of the most wide-reaching and significant changes to military pay and benefits over the last 70 years goes into effect Jan. 1, 2018, with the implementation of the Uniformed Services Blended Retirement System, known as BRS.
Those cadets and midshipmen that are grandfathered under the legacy retirement system who are not commissioned (or placed in an active pay status) until after 2018 will have 30 days to decide whether or not they want to opt into BRS.
A1. 8. Eligible service members may opt into BRS anytime between January 1, 2018 and December 31, 2018. It is important to note, service members opting into the new retirement system will begin receiving automatic and applicable matching government contributions effective the first pay period after opt-in.
But as a general rule of thumb, if you are still young in your career and aren't sure if you will remain on active duty long enough to earn a military retirement, then it makes sense to opt into the BRS. You will earn automatic contributions and matching contributions to the TSP.
0:071:38How To Opt-In To BRS: Army, Navy & Air Force - YouTubeYouTubeStart of suggested clipEnd of suggested clipSystem is right for you you simply visit your services designated resource to opt into the BRSMoreSystem is right for you you simply visit your services designated resource to opt into the BRS otherwise.
High-3 is the more generous retirement plan for members who serve 20 years or more year and earn its lifetime annuity. The BRS provides a 20 percent smaller annuity.
The BRS provides a defined benefit, which is a monthly pension payment for life, after 20 years or more of active-duty service.
In summary, while the Legacy Plan currently provides a higher quality pension, a major difference with the BRS is that you must serve at a minimum of 20 years in order to be eligible, and secondly that there is no government-matching in the TSP.
How to maximize your BRSInvest five percent of your pay into the Thrift Savings Plan (TSP). ... Learn how to invest within the TSP. ... Make the most out of your continuation pay. ... Be careful with the choice of a lump-sum payment. ... Most important, stay in the military for at least 20 years!
Eligibility. You are eligible to retire at any age after completing 20 years of creditable service. You may also receive a service retirement benefit at age 62, even if you do not have 20 years of creditable service.
BRS For Guard/Reserve Members National Guard and Reserve members with fewer than 4,320 retirement points as of Dec. 31, 2017, and who are in a pay status, will be eligible to opt into BRS, regardless of how many service or qualifying years they have accumulated.”