So, in a move similar to the business sector, the government will now be shifting more of the retirement liability on our individual military families. Providing access to the #TSP of which they will need to defer a portion of their paycheck AND choose how its invested. In addition, the pension payout is to be reduced.
Education of our military families of this impact will be crucial…and independent education would be preferred. For those who plan to make the military a career, this is a very important decision. For those who plan to stay onboard less than a decade, this move allows more portability of the retirement plan.
Click here to read a great summary by Sharon Epperson of CNBC.
By the end of this year, those who have served in the military less than 12 years must choose whether to opt into the BRS program or remain in the legacy plan. #sourceofthesource