Service members aren't signing up for blended retirement: Why not?

Service members aren't signing up for blended retirement: Why not?
(Photo by Lance Cpl. Jacqueline A. Garcia/Marine Corps)

With less than three months to go before the year-end deadline, only one in six of servicemembers eligible to opt-in to the new Blended Retirement System have done so, according to an Oct. 22 Military Times report.

So why is the take-rate so low? Are servicemembers concerned about BRS? Is the legacy retirement system viewed as a better deal? Have servicemembers received enough information from DoD? Is procrastination to blame?

MOAA is seeking answers to these questions via a newly launched survey of servicemembers who are eligible to opt-in to the new retirement plan.

Click here for the short survey. Responses to the survey will be anonymous and are important to MOAA's continuing advocacy efforts to preserve pay and benefits.

If you aren't eligible for BRS, please take a moment and share this article with servicemembers in your life who may be. Their input will inform MOAA's advocacy mission.

The BRS took effect on Jan. 1 and all servicemembers who entered service this year were automatically enrolled in the new program, which combines elements of the traditional retirement but also a contribution to a Thrift Savings Plan.

In 2018, servicemembers with less than 12 years of service in the active component or less than 4,320 retirement points in the reserve component are eligible to make a one-time decision to opt-in to the BRS or remain in the legacy system. The eligibility window closes at midnight on Dec. 31.