Linguist Opt for Blended Retirement System creating calculator for military retirement calculator.
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A cryptologic linguist with the 7th Intelligence Squadron, Staff Sgt. Joshua, completed the BRS Opt-In training to better understand the system before it is enacted. “I started (looking at it) back in June or July of last year, when the (Joint Knowledge Online) leadership course for the BRS launched,” Joshua said. “I heard about it in passing before, but a huge factor I didn't know about until that course was that you would still get a pension, granted at a slightly reduced rate. This changed my mind from ‘absolutely not worth it’ to ‘let's take a closer look’.”
The BRS combines servicemember’s traditional legacy retirement pension with distributions from the Thrift Savings Plan, creating a portable retirement option. The BRS will grandfather in servicemembers serving as of December 2017 under the legacy retirement system. No one currently serving will be automatically switched to the BRS, according the DoD’s Military Compensation website.
While networking and discussing his BRS training with other financial enthusiast, Joshua received feedback and began looking for a way to help those without his financial savvy to understand what the new system means and the importance of choosing the BRS option, if they could.
This what when Joshua began creating a BRS calculator, with the help of his mentors, to assist servicemembers in making the decision whether or not to make the change. “Turns out there's not a magic number, but there is a pretty fair range,” Joshua said. “After I got the calculator going, I figured if this calculator helped me, then it can help others as well, which is when I started to make the first video and put it up on YouTube. My leadership was incredibly supportive of this endeavor when I told them about it, and they pushed it up the chain.”
After posting his video and calculator, Joshua began to gain some steam behind his innovation. He wanted to ensure that the correct information and relevant was there to help advise and mentor Airmen. “My main focus is to make sure my facts and my calculator aren't wrong,” Joshua said. “The last thing I want to do is misinform others or myself. “When I'm talking to people about the new system, I like to outline what the new system has to offer and then, based on the person's personal goals, state my suggestion to them. For most people, it seems like a simple choice. If you don't plan on staying in ‘till 20 plus years, then opt-in, because the current system has no benefit to you.”
The feedback sessions Joshua organizes are usually held during monthly ‘brown bag’ mentoring sessions. At the sessions, Airmen are able to discuss the BRS and its options, and they can ask questions. This helps Joshua fine-tune his calculator and information. “Occasionally people ask if they should opt-in based on their personal criteria, which tells me that my explanation of how to use the calculator could be better,” Joshua said.
Joshua doesn’t see himself as a subject matter exert on this topic, nor is he a financial advisor. He describes himself as ‘a guy who really likes talking about investing and saving money.’ And, his innovation and drive have been noticed by leadership. “Joshua is a cryptologic linguist, but also has a passion for educating Airmen on the BRS,” said Chief Master Sgt. John Holly, superintendent, 659th ISR Group. “While he is not an expert on the BRS, he does a darn good job in his YouTube video with explaining some of the finer points of the new retirement system.”
Joshua’s goal for the calculator is to create a culture of financial responsibility among Airmen, to help them learn their retirement options and to make well informed decisions to prepare for their future, he said.
The Fiscal Year 2016 Nation Defense Authorization Act created the BRS. Currently, only 19 percent of active-duty military members are eligible for retirement benefits. It is expected that the BRS will increase that to 85 percent of active-duty members having some kind of retirement benefits, according to a recent article from the Air Force Personnel Center Public Affairs.
For more information about the Blended Retirement System and the BRS Opt-In Course, go to http://militarypay.defense.gov/BlendedRetirement/
The BRS combines servicemember’s traditional legacy retirement pension with distributions from the Thrift Savings Plan, creating a portable retirement option. The BRS will grandfather in servicemembers serving as of December 2017 under the legacy retirement system. No one currently serving will be automatically switched to the BRS, according the DoD’s Military Compensation website.
While networking and discussing his BRS training with other financial enthusiast, Joshua received feedback and began looking for a way to help those without his financial savvy to understand what the new system means and the importance of choosing the BRS option, if they could.
This what when Joshua began creating a BRS calculator, with the help of his mentors, to assist servicemembers in making the decision whether or not to make the change. “Turns out there's not a magic number, but there is a pretty fair range,” Joshua said. “After I got the calculator going, I figured if this calculator helped me, then it can help others as well, which is when I started to make the first video and put it up on YouTube. My leadership was incredibly supportive of this endeavor when I told them about it, and they pushed it up the chain.”
After posting his video and calculator, Joshua began to gain some steam behind his innovation. He wanted to ensure that the correct information and relevant was there to help advise and mentor Airmen. “My main focus is to make sure my facts and my calculator aren't wrong,” Joshua said. “The last thing I want to do is misinform others or myself. “When I'm talking to people about the new system, I like to outline what the new system has to offer and then, based on the person's personal goals, state my suggestion to them. For most people, it seems like a simple choice. If you don't plan on staying in ‘till 20 plus years, then opt-in, because the current system has no benefit to you.”
The feedback sessions Joshua organizes are usually held during monthly ‘brown bag’ mentoring sessions. At the sessions, Airmen are able to discuss the BRS and its options, and they can ask questions. This helps Joshua fine-tune his calculator and information. “Occasionally people ask if they should opt-in based on their personal criteria, which tells me that my explanation of how to use the calculator could be better,” Joshua said.
Joshua doesn’t see himself as a subject matter exert on this topic, nor is he a financial advisor. He describes himself as ‘a guy who really likes talking about investing and saving money.’ And, his innovation and drive have been noticed by leadership. “Joshua is a cryptologic linguist, but also has a passion for educating Airmen on the BRS,” said Chief Master Sgt. John Holly, superintendent, 659th ISR Group. “While he is not an expert on the BRS, he does a darn good job in his YouTube video with explaining some of the finer points of the new retirement system.”
Joshua’s goal for the calculator is to create a culture of financial responsibility among Airmen, to help them learn their retirement options and to make well informed decisions to prepare for their future, he said.
The Fiscal Year 2016 Nation Defense Authorization Act created the BRS. Currently, only 19 percent of active-duty military members are eligible for retirement benefits. It is expected that the BRS will increase that to 85 percent of active-duty members having some kind of retirement benefits, according to a recent article from the Air Force Personnel Center Public Affairs.
For more information about the Blended Retirement System and the BRS Opt-In Course, go to http://militarypay.defense.gov/BlendedRetirement/
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