References: The Uniformed Services Blended Retirement System ( DOD Implementation of the Blended Retirement System ( BRS Implementation Timeline ( Are You Opt-In Ready? ( BRS Infographic – Active Component ( BRS Infographic – Reserve Component ( Value of a Retirement Point Chart for 2017 (Legacy System) ( Value of a Retirement Point Chart for 2017 (Blended Retirement System) ( TSP Under the Blended Retirement System ( Marine Online (USMC) ( Global Pay Self Service (Coast Guard) ( MyPay ( Thrift Savings Plan Website ( Related YouTube Episodes: What is the Blended Retirement System? ( What Will the Blended Retirement System Do to My Pension? ( Myths About the Blended Retirement System ( Career Continuation Pay Under the Blended retirement plan ( An Introduction to the Thrift Savings Plan ( Let’s Talk About the Funds in the Thrift Savings Plan - Part 1 ( Let’s Talk About the Funds in the Thrift Savings Plan - Part 2 ( Related Podcast Episodes: What is the Blended Retirement System? ( What Will the Blended Retirement System Do to My Pension? ( Myths About the Blended Retirement System ( Career Continuation Pay Under the Blended retirement plan ( An Introduction to the Thrift Savings Plan ( Let’s Talk About the Funds in the Thrift Savings Plan - Part 1 ( Let’s Talk About the Funds in the Thrift Savings Plan - Part 2 ( Related Articles: What is the Blended Retirement System? ( What Will the Blended Retirement System Do to My Pension? ( Myths About the Blended Retirement System ( Career Continuation Pay Under the Blended retirement plan ( An Introduction to the Thrift Savings Plan ( ) Let’s Talk About the Funds in the Thrift Savings Plan - Part 1 ( Let’s Talk About the Funds in the Thrift Savings Plan - Part 2 ( First Call by Kevin MacLeod is licensed under a Creative Commons Attribution license ( Source: Artist: ...(read more)
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In Episode 0020 of the Thrift Savings Plan (TSP) podcast, host Kim Weaver interviews Blended Retirement System (BRS) experts about the TSP under the new retirement plan. The BRS replaced the old legacy retirement system in January 2018, and it affects all service members who joined the military on or after January 1, 2018. While the old retirement system provided a defined benefit pension after 20 years of service, the BRS includes a blended retirement system with a defined benefit and a defined contribution. The defined contribution feature includes a Thrift Savings Plan, which is similar to a 401(k) plan in the private sector. The TSP is a retirement savings account that allows service members to contribute pre-tax dollars from their paycheck, and the contributions grow tax-free until they withdraw them in retirement. The new retirement system also includes automatic and matching contributions to the TSP from the government, incentivizing service members to save for retirement. The government’s automatic contribution equals 1% of the service member’s pay, while the matching contribution matches the service member’s contributions up to a certain percentage. The experts note that the TSP under the BRS is an effective way for service members to save for retirement, but it requires active participation and education. Service members need to understand the benefits and implications of contributing to the TSP and review their investments regularly to ensure they are on track for retirement. In summary, Episode 0020 of the TSP podcast highlights the importance of the Thrift Savings Plan under the Blended Retirement System. The TSP is an effective way for service members to save for retirement, and the BRS includes automatic and matching contributions from the government. However, active participation and education are necessary to make the most of the TSP and reach retirement goals. https://inflationprotection.org/the-blended-retirement-system-and-the-thrift-savings-plan-exploring-episode-0020/?feed_id=92632&_unique_id=644d4ac105dba #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #airforce #army #blended #blendedretirement #blendedretirementsystem #blendedretirementsystemtsp #blendedretirement #BRS #coastguard #Comparison #invest #investing #investment #Marinecorps #marinecorpsreserve #marines #matchingfunds #military #navy #pension #rcretirement #retiredpay #Retirement #thethriftsavingsplanundertheblendedretirementsystem #thriftsavingsplan #thriftsavingsplanblendedwithpension #thriftsavingsplanhelp #tsp #tsptips #USMC #ThriftSavingsPlan #401k #airforce #army #blended #blendedretirement #blendedretirementsystem #blendedretirementsystemtsp #blendedretirement #BRS #coastguard #Comparison #invest #investing #investment #Marinecorps #marinecorpsreserve #marines #matchingfunds #military #navy #pension #rcretirement #retiredpay #Retirement #thethriftsavingsplanundertheblendedretirementsystem #thriftsavingsplan #thriftsavingsplanblendedwithpension #thriftsavingsplanhelp #tsp #tsptips #USMC
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