DOD begins educating service leaders on new retirement system
he new retirement system is composed of three components, a tradition defined-benefit plan like that current system, a 401K type defined-contribution plan with a portable retirement account through the Thrift Savings Plan (TSP), and a continuation pay at the mid-career point. Service members currently serving are grandfathered into the current military retirement system. Starting Jan. 1, 2018, all recruits will be automatically enrolled into the BRS. However, Active Duty members with fewer than 12 years of service as of December 31, 2017, and those reserve component members with less than 4,320 points will have until Dec. 31, 2018, to choose to remain in the current system or opt into the blended military retirement system