If anyone is interested in reading about the new blended retirement system, use this link in Military One Source:
http://www.militaryonesource.mil/financial-and-legal/personal-financial-management-and-taxes
It has a section there that goes over the whole thing. Essentially, starting in January 2018 all members coming in will be in the new BRS and those with less than 12 years will have the option to join it. In a nutshell, here are the changes:
There will be a match in their TSP (Thrift Savings Plan, the mil version of a 401K) of up to 5% after two years (vesting).
At 12 years, all members will be eligible for a continuation pay which will be like a bonus if you sign up for 4 more years. The amount of bonus will probably depend on your job but everyone does get a bonus.
If you make at least 20 years, the multiplier will be 2% instead of what it is now at 2.5% to figure your pension.
All in all, I think it is a much better retirement plan than the current one. Only about 19.5% of the people are like me and do at least 20 years and retire. Most don’t get anything, now almost everyone gets something and if you are a smart investor, you will have more money after 24 years than what I got.
Ping to article and #5 especially