Reservist

ISS1 2016

Reservist Magazine is the award-winning official publication of the United States Coast Guard Reserve. Quarterly issues include news and feature articles about the men and women who comprise America's premier national maritime safety and security

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The U.S. Uniformed Services Blended Retirement System At a Glance Saving with the New Blended Retirement System The Fiscal Year 2016 National Defense Authorization Act provides our military force with a modernized retirement plan built for retirement savings. Beginning in 2018, our service members can get automatic and matching Thrift Savings Plan contributions as well as mid-career compensation incentives in addition to a monthly annuity for life. All service members under the current system are grandfathered into today's retirement system. Today's Retirement System: 2.5% x Years Served x Retired Pay Base after completing 20 years of service Annuity 1 Automatic and Matching Contributions Automatic contributions are seen immediately You Contribute DoD Auto Contribution DoD Matches Total 0% 1% 0% 1% 1% 1% 1% 3% 2% 1% 2% 5% 3% 1% 3% 7% 4% 1% 3.5% 8.5% 5% 1% 4% 10% The DoD automatically contributes 1% of your basic pay to your Thrift Savings Plan after 60 days of service. You'll see matching contributions at the start of 3 through the completion 26 years of service, and... You're fully vested—it's yours to keep—as of the beginning of 3 years of service and goes with you when you leave. 2 Continuation Pay Received at the mid-career point You may receive a cash payment in exchange for additional service. 3 Full Retired Pay Annuity Received after completing 20 years of service 2% x Years Served x Retired Pay Base Calculate your retired pay base by averaging the highest 36 months of basic pay. You'll gain this monthly annuity for life after completing 20 years of service. Options for Collecting Your Retired Pay Active Component Full retired pay annuity Reserve Component Full retired pay annuity beginning at age 60* or Lump sum with reduced retired pay 50% or 25% of monthly retired pay annuity bumps back up to 100% at full retirment age (67 in most cases). * Could be earlier based on credited active/inactive service Efective Date of the New System Your Retirement System If you joined the service...    After January 1, 2018 You'll be automatically enrolled in the Blended Retirement System.    After January 1, 2006 but before January 1, 2018 You'll have the choice to enroll in the Blended Retirement System or remain in today's current retirement system.    Before January 1, 2006 You'll be grandfathered and remain in today's current retirement system. Additional information coming soon. Sources: Sections 631, 632, 633, 634, and 635 of the Fiscal Year 2016 National Defense Authorization Act.

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