1789 employees reported this benefit
Great options with pension for a lifetime
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.
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.
The benefit is only available after twenty years of service.
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.
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
TSP is good if used properly
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.
Only retire if you complete 20 years. They just started a new Blended Retirement System though.
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.