Ads
related to: blended retirement systemDiscover a New & More Personalized Approach To Help You Plan Your Retirement With Us. Connect With a Financial Advisor At a Merrill Lynch Wealth Management Location Near You.
- Merrill Advisor Match
With Merrill Advisor Match, We've
Made It Easier To Find An Advisor.
- Preparing For Retirement
What Can You Do Now to Accomplish
Your Retirement Goals Later?
- Work With Merrill
Plan, Preserve And Help Fulfill
Your Vision Of The Future.
- Our Products & Solutions
Products And Services You Need
To Pursue Your Financial Goals.
- Merrill Advisor Match
Most Of Our Advisors Are Vets Or Military Spouses Who Understand Your Needs. Financial Retirement Advisors Coaching Military Families. Get Started Now.
Search results
Learn about the Blended Retirement System that combines elements of the legacy retirement system with benefits similar to civilian 401 (k) plans. Find resources, eligibility, opt-in, continuation pay, lump-sum option and more.
- Calculators
Welcome to the Department of Defense Blended Retirement...
- Retirement
Blended Retirement System (BRS) Blended defined benefit and...
- Contact
For information and answers regarding your specific...
- About
Retirement discusses the various retirement systems...
- Pay
Blended Retirement Pay. Basic Pay Special and Incentive Pays...
- Tax Information
Blended Retirement Pay. Basic Pay Special and Incentive Pays...
- BRS New Accessions Course
“The Uniformed Services Blended Retirement System: Your...
- Calculators
- What Is The New Retirement System?
- What Is New About This Retirement System?
- Why Is Adding The Tsp to Retirement A Good Thing?
- What Else Is New About The Blended Retirement System?
- The Blended Retirement System Summed Up
- For More Information About The Blended Retirement System
- Keep Up with Military Pay Updates
The new retirement system is known as the "Blended Retirement System" or BRS. The “blending” in BRS comes from the blending of two major sources of retirement income: the existing annuity provision for those who retire after 20 or more years of service, PLUS the Thrift Savings Plan (TSP). The TSP is a government run 401(k) retirement account that a...
BRS uses the retirement annuity formula that has been in place for years: the average of the service member's highest 36 months of basic pay times 2.5% of their years of service -- but the 2.5% is adjusted downward by half of a percentage point, from 2.5 to 2%. To make up for this reduction the government will contribute to a member's Thrift Saving...
The best part of having a TSP contribution really applies to those who don't stay in the military long enough to get a retirement check. The government says that 83% of people who join the military don't stay long enough to retire, so when they leave after 5 or 10 years of military service they basically get nothing towards their future retirement....
Continuation Pay
BRS also includes a mid-career continuation pay at about 12 years of service, as a further incentive to convince military members to remain in the service until they reach the 20 year mark and qualify for monthly military retired pay. The amount, length of addition service required, and actual time payable differ for each branch of service, in some cases different military occupations get different amounts too. Check with your personnel office for specific details. Related: Continuation Pay E...
Lump Sum Option
When you retire (or at age 60 for guard/reserve members), you will be given the option to receive monthly retirement pay checks, or you can take a lump-sum payment of either 25% or 50% of your gross estimated retired pay, and get smaller monthly checks. If you take a 25% lump-sum payment, your monthly retirement pay will be 75% of the normal full retirement pay. If you take the 50% lump-sum, it will be 50% of the normal retirement pay. Also, your lump-sum payment is discounted by an amount th...
The new system is made up of 4 specific components: 1. Defined Benefit: 1.1. Retired pay will be 2% times number of years of service. If you retire at 20 years service you get 40% of your final base pay. If you retire at 30 years service you get 60% of your final base pay. 1.2. You can either get your full retirement when eligible or opt to get a l...
DFAS has several resources that explain the BRS on their website. Members should also receive BRS training at their units. The DOD also has a BRS calculator online.
Military pay benefits are constantly changing. Make sure you're up-to-date with everything you've earned. Subscribe to Military.comto receive updates on all of your military pay and benefits, delivered directly to your inbox.
The Blended Retirement System (BRS) went into effect on 1 January 2018. The BRS applies to all service members who entered the Uniformed Services with a Date of Initial Entry into Military Service (DIEMS) of 1 January 2018 or later. The BRS is a combination of a defined benefit plan, similar to predecessor plans that pay monthly retired pay ...
Jan 4, 2022 · Learn about the changes to the military retirement system and how they could affect you and your family. Find answers to common questions about the BRS, TSP, continuation pay and annuity.
People also ask
What is the Blended Retirement System?
How do I Opt-in to a Blended Retirement System?
What is a Blended Retirement System (BRS)?
How do I contact the Blended Retirement System?
2016 created a new retirement system for members of the uniformed services. This system, called the Blended Retirement System, or BRS, blends the traditional legacy retirement pension, also known as a defined benefit, with government payments made into your individual Thrift Savings Plan, or TSP, account, also known as a defined contribution.
- 3MB
- 28
Under the military’s Blended Retirement System, about 85% of all active-duty and reserve service members will receive a retirement benefit, even if they don’t qualify for full retirement. That’s a big difference from the low numbers of service members today saving for retirement. Your future self will thank you if you begin saving even ...
Ad
related to: blended retirement systemLearn How We Are Changing The Conversation About Retirement. Connect With a Financial Advisor At a Merrill Lynch Wealth Management Location Near You.
