Retirement | North Dakota Army National Guard

BLENDED RETIREMENT SYSTEM CONTINUATION PAY (CP)

BACKGROUND Starting January 1st, 2018, eligible Army National Guard Soldiers entering service are automatically enrolled in the modernized retirement plan, known as the Blended Retirement System. The plan provides: Monthly retired pay for life after 20 years of eligible service starting at the age of 60 Government automatic and matching contributions to a member's Thrift Savings Plan (TSP) A retention incentive called Continuation Pay (CP) Lump Sum option at retirement CONTINUATION PAY ELIGIBLITY Continuation Pay is a one-time, mid-career financial incentive payable to Soldiers who meet the following criteria: Must be enrolled in the Blended Retirement System Must have at least eight but no more than 12 years of service as determined from their Pay Entry Basic Date (PEBD) Must be a member of the Selected Reserves (SELRES) in a status to receive basic pay or inactive duty pay Must agree to an additional four-year service obligation in the component in which they are serving at the time CP is requested CONTINUATION PAY BENEFITS Soldiers may receive the BRS-CP in a lump sum, two equal installments, three equal installments, or four equal installments CP can be invested into your Thrift Savings Plan (TSP) account, up to the annual maximum allowed by the Internal Revenue Service (IRS) This one-time incentive is in addition to any other career field specific incentives or retention bonuses The CP amount for all eligible Soldiers is 2.5 times the monthly basic pay for active duty. The CP amount will be computed using the eligible Soldier's current pay grade and years of service as listed on the Defense Finance and Accounting Service (DFAS) monthly basic pay table in effect on the date of the Soldier′s signature on the BRS-CP Election Form. HOW TO APPLY All Soldiers may submit their Continuation Pay request through the BRS-CP Request Form once they become eligible. Contact your unit S1 and your State Incentive Manager to initiate the process. Take the required financial education training online , or in-person with a credentialed financial counselor, and/or group training with an approved financial educator. The Soldier's CAC signature date on the BRS-CP Request Form establishes the start of the 4-year service obligation Note: Army National Guard programs and benefits are subject to change. For the latest information, please contact your local recruiter. Find out more about BRS at https://militarypay.defense.gov/blendedretirement . FAQS

BACKGROUND

Starting January 1st, 2018, eligible Army National Guard Soldiers entering service are automatically enrolled in the modernized retirement plan, known as the Blended Retirement System. The plan provides:

- A retention incentive called Continuation Pay (CP)

- Monthly retired pay for life after 20 years of eligible service starting at the age of 60

- Lump Sum option at retirement

- Government automatic and matching contributions to a member's Thrift Savings Plan (TSP)

CONTINUATION PAY ELIGIBLITY

Continuation Pay is a one-time, mid-career financial incentive payable to Soldiers who meet the following criteria:

- Must be enrolled in the Blended Retirement System

- Must have at least eight but no more than 12 years of service as determined from their Pay Entry Basic Date (PEBD)

CONTINUATION PAY BENEFITS

- Must be a member of the Selected Reserves (SELRES) in a status to receive basic pay or inactive duty pay

HOW TO APPLY

- Must agree to an additional four-year service obligation in the component in which they are serving at the time CP is requested

FAQS

- Soldiers may receive the BRS-CP in a lump sum, two equal installments, three equal installments, or four equal installments

What to know 9

- CP can be invested into your Thrift Savings Plan (TSP) account, up to the annual maximum allowed by the Internal Revenue Service (IRS)

What to know 10

- This one-time incentive is in addition to any other career field specific incentives or retention bonuses

Verify current terms. Programs, amounts, eligibility and service requirements can change. Dynamic values require an authorized review date before publication.

Source: Army National Guard Retirement page