Who here, as of January 1st, 2018, will have less than 12 years of service? Okay, so the new blended retirement is really directed at you. Anybody with less than 12 years will be grandfathered in, but you should educate yourself on it because you're going to have benefits that will work for you. So, you need to make sure you can pass this information on. Basically, I'm going to read it because I want to make sure it's very clear. For those who have not seen, there was a message that came out yesterday addressing the new Blended Retirement System, giving everybody a little bit of information, but not all-encompassing because we're still working on how we're going to push this out to the service. Right now, each year, you get 2.5 percent charge retirements. When you hit 20 years, you get 50 percent. That's going to change to 2 percent, so at 20 years, you'll get 40 percent. So, remember, it's like all that kind of stuff. Well, the kick is that there's going to be a matching TSP contribution, automatic 1%, and then the government will match it up to 5%. So, that's something that's good. If you decide to leave the service in under 20 years, that matching goes with you, so you don't lose that contribution. That's a huge plus. We're hoping that will be an accession tool we can use. We're hoping it will help out when members hit around 12 years. That's still to be determined. Right now, there's going to be an incentive peg, basically a bonus, and it's going to be a minimum of 2.5 percent of one month's base pay, that can raise a little bit but won't go lower. For a reservist, that'll be 0.5 percent. So, that's a...
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Coast guard retirement pay shutdown Form: What You Should Know
Coast Guard pension checks were paid out today and only 50,000 retired Coast Guard homesick in danger of not getting their pensions in two weeks as the longest government shutdown in American history closes federal offices and furloughs thousands of workers across government Jan 21, 2024 — The 50,000 retired and unemployed Coast Guard personnel are at risk of not getting their pensions in two weeks as the longest government shutdown in American history closes federal offices and furloughs thousands of workers across government Jan 21, 2024 — Retired Coast Guardsmen are at risk of not getting their pension payments in two weeks as the longest government shutdown in a generation closes federal offices and furloughs thousands of workers across government Jan 22, 2024 — This is not going well for the Coast Guard. We pay our retired military personnel in full every month because their pay is not impacted, but since the government shutdown began, pay has been not issued because the pay offices close.  They've been sending checks but no check yet to those who worked and sacrificed so much to keep us safe on this earth. Coast Guard Retirees, Navy, Air Force, and Marine Corps Jan 21, 2024 — Today, they took a step in the right direction by sending out their retirement checks, but they could be missing out, if Congress does not act to resolve any outstanding issues by Jan 29, it could take four months for the checks to go out. We need that bill by Jan 29 to protect the Coast Guard against any possible financial or operational impact of the shutdown. Retiree and Annuitant Social Security Benefit Jan 17, 2024 – We've been waiting for this for a long time, but we should also note that a shutdown would also affect Social Security benefits for many Coast Guard retired personnel and Annuitants. Our own Social Security Administration has already issued notice to the U.S. Navy to prepare to stop issuing retroactive disability payments for military retirees and annuitants who do not receive health insurance through their employers.
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