TALLAHASSEE, Fla. (WTXL)-- According to a video made by the US Department of Defense, the new Blended Retirement System is allowing members of the military who do not reach 20 years of service the opportunity to receive partial retirement funding, instead of none.
This is a change from the original retirement plan, which has been used for men and women in the military for years.
Another change is the inclusion of a new matching plan, which would allow the Department of Defense to put the same percentage into savings as a service member after they reach their third year.
In addition, after just two years of service if the member decides to leave, whatever is in their savings goes with them.
In anticipation for the new service the government has started to work on informational courses for those that are already in the force and want to know if they should change from the original plan, and for future service members who will automatically be put into the plan.
The Blended Retirement System is set to take effect in January of 2018 and if you would like anymore information on this you can check out the FAQ sheet here.
