Navy officials have posted the new Blended Retirement System (BRS) Opt-In course online.
Announced in NAVADMIN 020/17 and launched on Tuesday, the course helps sailors navigate the tough decision of whether to stay in the current retirement system or choose the blended system. All sailors who are eligible for the blended retirement option must complete training by the end of the year.
The new Blended Retirement System was authorized in the 2016 annual defense legislation and is slated to go in effect by the start of 2018. The new system includes a Thrift Savings Plan with matching contributions and a one-time continuation payment for service members completing 12 years of service— upon agreeing to an additional three years of duty.
Active duty members are eligible for the new retirement system if they entered active service on or before Dec. 31, 2017 and have less than 12 years of service. Reserve and full time support service members can elect the new retirement system if they entered military service on or before Dec. 31 and have less than 4,320 retirement points as of that date.
Naval Academy and reserve midshipmen, and those in currently in the Delayed Entry Program, are eligible to opt-in to the new system if they entered the military on or before Dec. 31, 2017.
A free Navy app on financial literacy is online now and can be found downloaded on Google Play and iTunes. In March, the Navy expects to have an online calculator to help sailors in making this irrevocable decision. Extra tools will be added at a future date.
All sailors that are eligible for the blended retirement system must complete the system training which can be found here, under course number J3O P-US1332. For more information on the new retirement system, click
.
Shawn Snow is the senior reporter for Marine Corps Times and a Marine Corps veteran.
