After a month or so delay, the DoD’s Retirement Comparison Calculator is now live! The comparison calculator allows service members to input some of their basic information and provides a detailed comparison on what their retirement income would look like under both the current retirement system and the new Blended Retirement System. This is a valuable tool to help provide service members with more information that they can use in making the decision on whether or not to opt-in to the new retirement system when it is implemented in 2018.
Getting to Know Your TSP Fund Options
Understanding the Military’s New Blended Retirement System, Part 2
Understanding the Military’s New Retirement System, the Blended Retirement System
For years, those who have served in the military have had one constant; if you serve 20 or more years, you get a pension for life, if you don’t, you get nothing. This changed a little when the Thrift Savings Plan (TSP) came into effect in the late 1980s. With the TSP, the government did give service members a mechanism for saving money direct from their paycheck. The big key here is that it was ONLY the service members money, Uncle Sam kicked in nada. If you contra