{"id":57395,"date":"2018-07-09T14:36:40","date_gmt":"2018-07-09T14:36:40","guid":{"rendered":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/uncategorized\/2018\/07\/09\/avoid-this-costly-mistake-if-you-opt-into-brs\/"},"modified":"2026-08-08T12:01:17","modified_gmt":"2026-08-08T12:01:17","slug":"avoid-this-costly-mistake-if-you-opt-into-brs","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/pay-benefits\/2018\/07\/09\/avoid-this-costly-mistake-if-you-opt-into-brs\/","title":{"rendered":"Avoid this costly mistake if you opt into BRS"},"content":{"rendered":"\n

Some service members who have opted into the new Blended Retirement System<\/a> aren\u2019t taking advantage of the system\u2019s key benefit: Matching retirement-plan contributions. <\/p>\n\n\n\n

A little more than 1 in 10 service members who\u2019ve switched to BRS aren\u2019t putting any money into their Thrift Savings Plan account, according to Defense Department figures. The government automatically contributes 1 percent of a service member\u2019s basic pay into his TSP account under BRS, but \u201cto take full advantage of BRS, the member needs to contribute from his or her own pay in order to receive the government\u2019s matching contributions up to an additional 4 percent,\u201d Defense Department spokesman Navy Cmdr. Michael Cody said.<\/p>\n\n\n\n

The TSP is a retirement savings plan similar to a 401(k) plan in the civilian world. Under the legacy retirement system, the government doesn\u2019t match service members\u2019 TSP contributions. Under BRS<\/a>, the government does. <\/p>\n\n\n\n

That means service members must adjust their TSP contributions in MyPay, MarineOnline, or the Coast Guard\u2019s Direct Access after opting in to BRS if they want the matching benefit. It\u2019s not clear why some service members who\u2019ve opted into BRS aren\u2019t making the contributions, Cody said. <\/p>\n\n\n\t