As Benjamin Franklin once noted, death is one of the only certainties in life. Despite this common knowledge, people are often overwhelmed by all the processes that follow a loved one's passing. These procedures are especially complex for military families, in part because of the entitled benefits they must claim from multiple government agencies. Read more about all the action items for survivors following a veteran's death, and about AAFMAA's invaluable role in securing benefits and entitlements for survivors.
On 1 January 2018, everyone entering the military will be part of the new “Blended Retirement System” (BRS), which includes a 401(k)-like defined contribution plan that vests at two years, provides a continuation bonus around 12 years of service, and then establishes a defined benefit pension at retirement after 20, or more, years.
Earlier this week, on March 20th, the Military Times published an insurance guide for people looking to know more about the upcoming changes to the military retirement system. In the article, "Insurance Guide 2017: How the new retirement system may change your insurance plans," AAFMAA COO Mike Meese summarized the changes, and some of the effects that the new system will have on the financial security of the military families who choose to enroll.