US Navy Employee Benefit: Retirement Plan | Glassdoor

US Navy Retirement Plan

1789 employees reported this benefit

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Available to US-based employees (Change location)

Employee Comments

Showing 1–10 of 344
  • Apr 12, 2019
    StarStarStarStarStar Former Senior Electrical Engineer in Newport News, Virginia

    Great options with pension for a lifetime

  • Apr 11, 2019
    StarStarStarStarStar Current Fire Controlman (Tomahawk Technician) in Mayport, Florida

    If you've been grandfathered in to the high 36 then I think that's a pretty good retirement deal. Even the TSP is a great option for all the new people joining the ranks. Take advantage of the BRS especially if you intend on getting out.

  • Apr 03, 2019
    StarStarStarStarStar Former Reactor Control Division Chief in Groton, Connecticut

    My retirement plan was great (5 star), but it is now a blended system with some contribution matching as well as a limited pension if you stay in for the long haul.

  • Apr 02, 2019
    StarStarStarStarStar Current Employee in Arlington, Virginia

    The benefit is only available after twenty years of service.

  • Mar 29, 2019
    StarStarStarStarStar Current Program Manager in Lemoore Nas, California

    New service members coming in will not have the ability to have a traditional military retirement. They will now be using a Roth IRA style retirement were the service member pays in and the Navy matches your pay in. The catch to that is that they don’t start to match you pay in till your third year in the Navy.

  • Mar 13, 2019
    StarStarStarStarStar Current Employee in Charleston, South Carolina

    Navy will now give 1% of base pay into traditionalTSP and will match up to another 4% with your contributions into a traditional TSP account

  • Mar 06, 2019
    StarStarStarStarStar Current Aviation Electronics Technician in Lemoore Nas, California

    TSP is good if used properly

  • Feb 11, 2019
    StarStarStarStarStar Current Employee in Washington, District of Columbia

    Matching TSP and FERS is very generous. It can be a shock to a new employee, since FERS and TSP come out of your regular paychecks. However, once you get used to it and get a few step increases under you, it's then obvious to see how much your retirment savings is benefiting.

  • Feb 08, 2019
    StarStarStarStarStar Current Nuclear Surface Warfare Officer in Palo Alto, California

    Only retire if you complete 20 years. They just started a new Blended Retirement System though.

  • Feb 06, 2019
    StarStarStarStarStar Current Employee in San Diego, California

    Effectively no civilian employers offer a defined benefit annuity as part of their retirement compensation packages. The government is now the only entity that can afford such a generous package of benefits.

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