You have the opportunity to opt into the BRS because you are either an Active Component (AC) member who will have completed fewer than _____ or a Reserve Component (RC) member who will have fewer than _____ as of December 31, 2017.
How to Opt Into BRS via myPay (7 Steps) The opt-in module in myPay will only open to those eligible to opt-in. It will probably be calculated automatically from data in your myPay account. If you think there is an error, let finance know ASAP so they can manually review your info.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Thank you for supporting my independent, veteran owned site. The Blended Retirement System (BRS) opt in period begins 1 January 2018.
If you separate before 20 years, you can take these matching funds with you, rather than getting nothing in the current system. If you DO NOT want to opt into the BRS and stay under the old system, no action is required on your part. You are automatically grandfathered into the old system.
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.
Determining whether a member is grandfathered under legacy High-3 or automatically enrolled in BRS is based on DIEMS. If DIEMS is on or before December 31, 2017, he or she is grandfathered. If DIEMS is on or after January 1, 2018, he or she is automatically enrolled in BRS.
0:071:38How To Opt-In To BRS: Army, Navy & Air Force - YouTubeYouTubeStart of suggested clipEnd of suggested clipYou can then log in using either your common access card or your login ID and password. Under theMoreYou can then log in using either your common access card or your login ID and password. Under the main menu select blended Retirement System opt in. Now the system will walk you through the 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.
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.
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.
If you are a commissioned officer or an enlisted with prior commissioned service, you must have at least 10 years of commissioned service to retire at your commissioned rank.
less than 12 years of active duty service, or fewer than 4,320 retirement points for reserve component members, as of 31 December 2017 were afforded the opportunity to opt-in to the Blended Retirement System through 31 December 2018 or remain grandfathered in their current retired pay plan.
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.”
Many military members stick around for 20 years just to earn retirement benefits. Stay on active duty for as long as it's challenging and fulfilling. But if it becomes too much, consider joining the National Guard or Reserves to continue your military career and earn your retirement benefits.Don't Gut It Out To 20: Leave Active Duty For Guard or Reserveshttps://themilitarywallet.com › leave-active-duty-for-reser...https://themilitarywallet.com › leave-active-duty-for-reser...Search for: Should I do 20 years in the military?
Since 83% of servicemembers do not stay in the military for the full 20 years required to get the normal retirement benefit, the Commission proposed a new system which includes a defined benefit, a defined contribution to the Thrift Savings Plan (TSP), and Continuation Pay for members who have more than 12 years active ...Upcoming Changes To Military Retirement System Explainedhttps://www.military.com › benefits › military-pay › upco...https://www.military.com › benefits › military-pay › upco...Search for: Is the military doing away with 20 year retirement?
Benefit Fact Sheet. In most cases, Soldiers who have completed 20 years of active service are eligible to receive Retired Pay at the end of their career. The Date of Initial Entry into Military Service (DIEMS) determines which of the three retirement systems a Soldier falls under.Retired Pay For Soldiers | The Official Army Benefits Websitehttps://myarmybenefits.us.army.mil › Federal-Benefits › R...https://myarmybenefits.us.army.mil › Federal-Benefits › R...Search for: Can you retire after 20 years in the military?
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The opt-in module in myPay will only open to those eligible to opt-in. It will probably be calculated automatically from data in your myPay account. If you think there is an error, let finance know ASAP so they can manually review your info.