"...After nearly two years of planning, significant changes are coming soon to the military retirement system.
The Federal Retirement Thrift Investment Board (FRTIB), the agency that administers the TSP, has been preparing and working with individual military services to prepare and train eligible service members on their options.
But the FRTIB’s Sept. 11 proposed rule offered more specific details about how the agency will implement the new blended retirement system (BRS) — and exactly who is eligible and when they’ll receive their first contributions.
Generally, the new plan moves military members from a retirement system that mostly relied on a vested defined benefit plan to one that includes a reduced defined benefit plan with greater TSP benefits, continuation pay and some lump-sum options.
“Blended retirement” incorporates four major changes to the current retirement system for uniformed military...."
