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DoD Blended Retirement System
Posted on 11/6/17 at 9:16 pm
Posted on 11/6/17 at 9:16 pm
Anyone looked into this or done the online training yet? Opt in period starts next year, trying to figure if it's a good move or not.
I'm M-Day with just 4 years in but I plan on sticking it out for at least 20. I'm sure the online training will cover it in detail but I haven't opened it yet - what are the advantages or disadvantages? I also see something about a matched contribution to the TSP but not sure how that factors in.
I'm M-Day with just 4 years in but I plan on sticking it out for at least 20. I'm sure the online training will cover it in detail but I haven't opened it yet - what are the advantages or disadvantages? I also see something about a matched contribution to the TSP but not sure how that factors in.
3
Posted on 11/6/17 at 9:42 pm to NaturalBeam
Go with the BRS if you’re going the long haul and max your contributions.
After you retire, roll your TSP into your Civilian Account.
And go Roth.
After you retire, roll your TSP into your Civilian Account.
And go Roth.
Posted on 11/6/17 at 10:16 pm to NaturalBeam
If you're putting in 20+, stay with the current. If you intend to get out before 20 then switch to the new system.
It's not an all or nothing system anymore, meaning if you get out early then in the new system you get to keep some and there's some TSP matching, but the return is much better with the current system if you're in for the long haul.
I have some info on it at work. I'll post more details tomorrow, but the training should spell out my summary above in detail.
It's not an all or nothing system anymore, meaning if you get out early then in the new system you get to keep some and there's some TSP matching, but the return is much better with the current system if you're in for the long haul.
I have some info on it at work. I'll post more details tomorrow, but the training should spell out my summary above in detail.
Posted on 11/6/17 at 10:27 pm to BrentED
Thanks - yeah roughly from what I can tell the old formula is (years of service) x ("high 3") x (2.5%), versus the new BRS, which is (years of service) x ("high 3") x (2.0%) - so right BRS is a 20% cut to the monthly pension payment.
BRS attempts to make up for that with the matching TSP contributions but I'm not sure it's worth it. I just made O-3, so I'd expect my pension "high 3" to be drawing from O-4/5 pay. So is 20% of that more significant than the 5% matching over 20 years? Guess I need to sack up and do the training.
Just wondering if anyone else has made their decision yet.
BRS attempts to make up for that with the matching TSP contributions but I'm not sure it's worth it. I just made O-3, so I'd expect my pension "high 3" to be drawing from O-4/5 pay. So is 20% of that more significant than the 5% matching over 20 years? Guess I need to sack up and do the training.
Just wondering if anyone else has made their decision yet.
Posted on 11/7/17 at 6:31 am to CajunSoldier225
quote:
Go with the BRS if you’re going the long haul and max your contributions.
Don’t listen to this advice.
Posted on 11/7/17 at 9:14 am to 13SaintTiger
Has the Army ever shoved anything down your throat that was beneficial?
Posted on 1/13/18 at 11:40 am to BrentED
quote:
If you're putting in 20+, stay with the current. If you intend to get out before 20 then switch to the new system.
This
Im staying on the old system. 7 years in and about to sign up for another 4.
Posted on 1/13/18 at 11:51 am to NaturalBeam
I need to sit down and really take a look at this. I have 4 years active, 3 reserves and plan to retire at 20 from the reserves.
Posted on 1/13/18 at 11:53 am to Azazello
quote:
retire at 20 from the reserves.
you are going to need a ton of active time
Posted on 1/13/18 at 11:56 am to StraightCashHomey21
quote:
you are going to need a ton of active time
Uh what? 20 years is 20 years. Well really it's sat years.
Posted on 1/13/18 at 12:39 pm to Azazello
quote:
20 years is 20 years
Not going to pretend to be an expert but....no it isn’t.
You don’t get credit for years of service just for being in the reserves. You have to hit a certain threshold of activity in order for a calendar year to count as a qualifying retirement year.
I don’t know if partial balances/surplus can rollover though. 2-3 short year combine for one good year, or a surplus of points in one year helping with a deficit in another.
Posted on 1/13/18 at 1:38 pm to Volvagia
quote:
You have to hit a certain threshold of activity in order for a calendar year to count as a qualifying retirement year.
What I said
quote:
Well really it's sat years.
in the USMCR, a SAT year is 50 points (1 point = 1 drill period. points are "retirement points"). I'm looking at the MCRAMM right now
I've been in the USMCR for 3 years now and I'm fairly savvy about the points system so unless yall know something I don't, please inform me.
quote:
The military offers significant benefits for Marine Reserve retirees. Marine reservists can earn retirement benefits for fulfilling various duties in a points system. Points are earned over 20 years of qualified service in the Marine Reserves. Major benefits include retirement payments and access to military health care. In addition, Marine reservists who become partially disabled may be eligible for disability compensation.
Earning Points Marine reservists earn points toward retirement through service. A point is earned for each day of completed active service. In addition, Marine reservists earn points for completing reserve training and passing coursework. For example, a Marine reservist could earn four points for completing a weekend of training- two points for each day. A Marine reservist must earn at least 50 points annually to have the year qualify towards the 20-year service requirement.
Posted on 1/13/18 at 1:44 pm to Azazello
quote:
Uh what? 20 years is 20 years. Well really it's sat years.
when your not active
guard/resevre need to be deployed or TDY to accumulate more time
20 years AD is not the same as 20 years guard/reserve
Posted on 1/13/18 at 2:01 pm to StraightCashHomey21
quote:
StraightCashHomey21
See my previous post
Posted on 1/13/18 at 2:42 pm to Azazello
Yes your training,deployments,drill etc go to what is considered AD points for retirement
Guard/Reserve will have to be in longer than 20 years to get the full time AD retirement pay that we get at 20
If both service requirements were equal then you would see way more people in guard/reserve for 20 years with out ever bothering being AD first.
Guard/Reserve will have to be in longer than 20 years to get the full time AD retirement pay that we get at 20
If both service requirements were equal then you would see way more people in guard/reserve for 20 years with out ever bothering being AD first.
This post was edited on 1/13/18 at 2:46 pm
Posted on 1/13/18 at 3:07 pm to StraightCashHomey21
Yea man, of course, the pay isn't equal. However, the time requirement is the same; 20 years
If I'm lucky enough to make it to O-5, it's a significant chunk of change after age 60. Plus, you get Tricare prime.
If I'm lucky enough to make it to O-5, it's a significant chunk of change after age 60. Plus, you get Tricare prime.
Posted on 1/13/18 at 3:13 pm to Azazello
quote:
Yea man, of course, the pay isn't equal. However, the time requirement is the same; 20 years
well thats why people stay in longer than 20
quote:
If I'm lucky enough to make it to O-5, it's a significant chunk of change after age 60. Plus, you get Tricare prime.
o shite big baller over here
Posted on 1/13/18 at 4:08 pm to StraightCashHomey21
Key phrase “lucky enough to make it” haha
Posted on 1/14/18 at 9:36 am to NaturalBeam
quote:
with just 4 years in but I plan on
Too many variables left out (MOS? CURRENT FITREP/OER scoring? Wife on board/single? Prospects for an after military job?) to give a complete solid answer either way.
With just 4 years in though i would seriously consider the BRS and it’s matching contributions. Hell, I’m at 8.4 years and wish the option had been available one i first entered.
Someone in your position may want to leave or get told to leave before 20. Having the guaranteed match coming in is a nice benefit.
In my situation I’m going with the old plan because i would need some pretty astronomical returns to make up for the lost 10 percent of pension value. YMMV.
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