6 Months Left to Enroll in the Blended Retirement System
6 months down…6 months left to enroll in the Blended Retirement System (BRS). The Navy put out a NAVADMIN message to remind us of the following, but all the services could benefit from a similar reminder:
- The BRS enrollment period is from 1 January 2018 until 31 December 2018.
- During this period, opt-in eligible service members may enroll in the BRS via the myPay website.
- Opt-in eligible service members who do not choose to enroll in BRS will remain in the current legacy retirement system.
- If a service member elects to enroll in the BRS, that election is irrevocable.
- Service members that wish to opt-in to BRS and want to receive the mid-career continuation pay (CP) are reminded that they must have opted in to BRS and requested CP before 12 years of service (YOS) to receive CP.
Also of note in this message is the following portion:
Current reports show that there are some service members who have opted in to BRS but are not making contributions to their Thrift Savings Plan (TSP) Account and are therefore not receiving government matching for their TSP.
That, my friends, is called leaving free money on the table. You need to make sure you snatch the match or else you are electing not to take a portion of your salary, the DoD match money.
As many readers know, we’ve collected all the BRS resources we have found in one place – our BRS Resource Center.