News happening around Little Rock Air Force Base
By Senior Airman Mercedes Taylor, 19th Airlift Wing Public Affairs
/ Published March 03, 2017
The Department of Defense recently made changes to how service members can plan for their financial future. The opt-in training for the new Blended Retirement System began Feb. 10, 2017, and lasts until Dec. 31, 2018.
The BRS is a new military retirement system that blends the traditional legacy retirement pension with a defined contribution to service members’ Thrift Savings Plan account. Eligible personnel interested in BRS must complete training as soon as possible.
ACTIVE-DUTY ELIGIBILITY REQUIREMENTS:
Fewer than 12 years in service as of Dec. 31, 2017
RESERVE COMPONENT ELIGIBILITY REQUIREMENTS:
Less than 4,320 retirement points as of Dec. 31, 2017
“Each eligible member should have received an initial notification Feb. 10, 2017,” said U.S. Air Force Senior Master Sgt. Raun Howell, 19th Force Support Squadron Manpower and Personnel flight superintendent. “The email included a link for the service member to acknowledge training and as well as a link for them to complete the BRS computer based training via the Joint Knowledge Online site.”
If eligible service members chose to stay with the legacy retirement system, the information received from the training will aid in making a decision that can shape the outcome of their finances.
“The training will enable all eligible service members to make a well-informed, fiscally-smart decision regarding their investments and retirement plan,” Howell said. “The decision affects a member's retirement pay for the rest of their life. Service members need to be fully informed of the specifics of each program before making such a massive decision.”
For more information about BRS, visit http://militarypay.defense.gov/BlendedRetirement.