1
00:00:00,280 --> 00:00:02,080
- Hi, my name is Captain Philip Patisaul,

2
00:00:02,080 --> 00:00:04,340
I work with the 413th
Force Support Flight,

3
00:00:04,340 --> 00:00:06,280
I'm here today to talk about BRS

4
00:00:06,280 --> 00:00:07,640
Blended Retirement System.

5
00:00:07,640 --> 00:00:09,267
And this is Five Questions.

6
00:00:09,267 --> 00:00:11,767
(funky music)

7
00:00:18,094 --> 00:00:20,677
(mellow music)

8
00:00:25,502 --> 00:00:29,360
Basically what it is is
a new Uniformed Services

9
00:00:29,360 --> 00:00:32,460
Retirement System, and how it differs from

10
00:00:32,460 --> 00:00:34,320
the legacy system,
which we're all used to,

11
00:00:34,320 --> 00:00:35,760
accustomed to, the 20 years and you

12
00:00:35,760 --> 00:00:37,540
get the defined annuity, is that

13
00:00:37,540 --> 00:00:40,780
it actually blends the 20 year annuity

14
00:00:40,780 --> 00:00:42,890
with a defined contribution plan.

15
00:00:42,890 --> 00:00:46,470
So there'll be a, the service member can

16
00:00:46,470 --> 00:00:49,070
actually contribute to a TSP along with

17
00:00:49,070 --> 00:00:52,400
government matching
that goes into that TSP.

18
00:00:52,400 --> 00:00:56,810
With the defined annuity
at a reduced rate.

19
00:00:56,810 --> 00:00:59,390
The biggest takeaway
is that the government

20
00:00:59,390 --> 00:01:00,800
would like for members who may not

21
00:01:00,800 --> 00:01:03,290
necessarily want to stay in for 20 years

22
00:01:03,290 --> 00:01:07,373
to actually walk away with some
type of retirement savings.

23
00:01:16,580 --> 00:01:21,250
So for Airmen who join the
service on 1 January 2018

24
00:01:21,250 --> 00:01:23,830
or after, they're gonna
automatically be enrolled in

25
00:01:23,830 --> 00:01:25,830
BRS, so they don't have an option.

26
00:01:25,830 --> 00:01:28,920
Those that are eligible for
BRS to opt-in or opt-out

27
00:01:28,920 --> 00:01:32,640
are Airmen that have
accumulated 4,319 points

28
00:01:32,640 --> 00:01:36,670
or fewer as of 31 December 2017.

29
00:01:36,670 --> 00:01:37,800
And that decision has to be made

30
00:01:37,800 --> 00:01:40,800
by 31 December of 2018 this year.

31
00:01:50,414 --> 00:01:53,130
The decision needs to
be made by 31 December

32
00:01:53,130 --> 00:01:54,440
as we just mentioned, 2018.

33
00:01:54,440 --> 00:01:57,280
If not, the decision
is being made for you,

34
00:01:57,280 --> 00:01:59,240
okay, so if you do nothing, then you're

35
00:01:59,240 --> 00:02:01,070
automatically gonna stay
in the legacy system.

36
00:02:01,070 --> 00:02:03,090
So that's something to keep in mind.

37
00:02:03,090 --> 00:02:06,760
The second thing is, it's
a family, a lifestyle,

38
00:02:06,760 --> 00:02:08,770
individual personal decision.

39
00:02:08,770 --> 00:02:10,840
It's not only gonna affect your career,

40
00:02:10,840 --> 00:02:12,380
your finances, but it's also gonna affect

41
00:02:12,380 --> 00:02:14,830
your family, and looking
back 10, 15, 20 years

42
00:02:14,830 --> 00:02:16,850
from now, the decision you made today

43
00:02:16,850 --> 00:02:18,843
is gonna affect your future.

44
00:02:27,460 --> 00:02:30,180
- I recommend you go to myPers and search

45
00:02:30,180 --> 00:02:32,890
Blended Retirement
System, you'll get a huge

46
00:02:34,280 --> 00:02:36,070
list of resources you can go on.

47
00:02:36,070 --> 00:02:39,070
There's actually a website,
a link that the DOD has

48
00:02:39,070 --> 00:02:41,970
provided, an official BRS website,

49
00:02:41,970 --> 00:02:43,340
you can go in, it has calculators,

50
00:02:43,340 --> 00:02:45,243
it has all kind of information on BRS.

51
00:02:53,382 --> 00:02:55,990
What I would say, probably one of the most

52
00:02:55,990 --> 00:02:58,730
important things is that
the decision is irrevocable.

53
00:02:58,730 --> 00:03:01,215
So once the decision is
made, if you opt-in to

54
00:03:01,215 --> 00:03:04,010
BRS through myPay and
you opt-in, you cannot

55
00:03:04,010 --> 00:03:05,520
the decision cannot be reversed.

56
00:03:05,520 --> 00:03:07,843
So that's one thing to keep in mind.

57
00:03:07,843 --> 00:03:10,340
The second thing I would
say is probably be informed,

58
00:03:10,340 --> 00:03:11,700
it makes you look at your career goals,

59
00:03:11,700 --> 00:03:13,526
you know, do you plan on
staying in the military

60
00:03:13,526 --> 00:03:15,980
for 20 years or do you plan on

61
00:03:15,980 --> 00:03:17,610
hey, I'm gonna have other things outside

62
00:03:17,610 --> 00:03:19,190
the military that I wanna do.

63
00:03:19,190 --> 00:03:22,523
Making those decisions will
help make a decision on BRS.

64
00:03:25,139 --> 00:03:28,056
(electronic music)