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The Blended Retirement System offers a matching contribution to the Thrift Savings Plan, a defined contribution retirement savings plan for federal employees. It also provides a portable retirement benefit for service members who may not stay in the military for a full 20 years. Overall, the Blended Retirement System can offer greater flexibility and potential for retirement savings compared to the traditional system.
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Which of the options listed pertain to the Blended Retirement System but not the legacy High-3 retirement system?
Options that pertain to the Blended Retirement System but not the legacy High-3 retirement system include automatic government contributions to the Thrift Savings Plan (TSP), continuation pay for members at the mid-career point, and the ability to opt into the BRS within a certain time frame.
Which of the options listed pertain to the Blended Retirement System but not the legacy High-3 retirement system Select all that apply?
Active Component (AC) Service members who do not choose to opt into the BRS by December 31, 2018 will be_____.
Which of the options listed pertain to the Blended Retirement System but not the legacy High-3 retirement system (Select all that apply)?
Active Component (AC) Service members who do not choose to opt into the BRS by December 31, 2018 will be_____.
As of December 31 2017 reserve component service members with fewer than 4320 retirement points will be?
grandfathered into the legacy high-3 retirement system and are eligible to opt into the BRS
As of December 31 2017 Reserve Component (RC) Service members with fewer than 4320 retirement points will be?
grandfathered into the legacy high-3 retirement system and are eligible to opt into the BRS
Money that is vested in a retirement account is?
Service member's decision to opt into the Blended Retirement System (BRS)
Money that is vested in a retirement account is .?
Service member's decision to opt into the Blended Retirement System (BRS)
Which of the options listed pertain to the Blended Retirement System but not the legacy High-3 retirement system?
Options that pertain to the Blended Retirement System but not the legacy High-3 retirement system include automatic government contributions to the Thrift Savings Plan (TSP), continuation pay for members at the mid-career point, and the ability to opt into the BRS within a certain time frame.
Which of the options listed pertain to the Blended Retirement System but not the legacy High-3 retirement system Select all that apply?
Active Component (AC) Service members who do not choose to opt into the BRS by December 31, 2018 will be_____.
Service members who elect to opt into the Blended Retirement System must serve complete year(s) in order to keep the Government-automatic (1 percent) contributions.?
2 yrs
Opt-in eligible Service members who elect to remain in the legacy High-3 retirement system are?
Opt-in eligible Service members who choose to remain in the legacy High-3 retirement system will continue to receive retirement benefits based on the average of their highest three years of basic pay. This decision allows them to maintain the established retirement calculations and potentially secure a higher payout compared to the new Blended Retirement System (BRS). However, they forgo some of the benefits associated with BRS, such as the service member's contribution to the Thrift Savings Plan and the government matching contributions. Ultimately, the choice should align with their long-term financial goals and service plans.
Opt-in eligible Service members who elect to remain in the legacy High-3 retirnement system are?
Opt-in eligible Service members who choose to remain in the legacy High-3 retirement system will continue to receive retirement pay based on their highest average salary over 36 months of service. This system requires at least 20 years of service for retirement eligibility. By opting out of the new Blended Retirement System (BRS), these Service members may maintain certain benefits, but they may miss out on the advantages offered by the BRS, such as automatic and matching contributions to the Thrift Savings Plan. Ultimately, the decision depends on individual financial circumstances and career plans.
Which of the options listed pertain to the Blended Retirement System but not the legacy High-3 retirement system (Select all that apply)?
Active Component (AC) Service members who do not choose to opt into the BRS by December 31, 2018 will be_____.
As of December 31 2017 reserve component service members with fewer than 4320 retirement points will be?
grandfathered into the legacy high-3 retirement system and are eligible to opt into the BRS
As of December 31 2017 Reserve Component (RC) Service members with fewer than 4320 retirement points will be?
grandfathered into the legacy high-3 retirement system and are eligible to opt into the BRS
What will Active Component Service members who do not choose to opt into the BRS by December 31 2018 will be?
choosing to remain in the legacy high 3 retirement system
Can a Ohio public employee opt out of OPERS?
Can an employee who has retired under a alternate Ohio State retirement plan and was re-hired into a position covered under OPERS opt out of participation in the OPERS retirement plan since the matching contribution do not accrue to the re-hired employee.
