Financial Management Element 42 Page 202

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HOW TO MEET THE HUMAN BASIC NEED TSP BRS SBP OTHERS

TSP Basically is the 401K of the DoD It is optional to pay in Payout types Monthly Annuity Lump sum

BRS GOOD LUCK WITH THAT

1159 31 December 2018 Must file BCNR NO OPTIONS All new recruits were automatically enrolled Members over 12 yrs were automatically denied enrollment All other eligible members the dead line to enroll was 1159 31 December 2018 Must file BCNR

For the surviving dependent Must be elected at time of retirement SBP For the surviving dependent Must be elected at time of retirement Can elect other insurable interest or parent

OTHERS MEDICAL DENTAL HOUSING/FOOD SHOPPING TRAVEL LEGAL PHYSICAL/MENTAL HEALTH

TAKE AWAYS TSP Belongs to the member regardless if retire or separate Depends on how much the member contributed Must begin withdrawing the year after their 70.5 birthday BRS Service will contribute 1% of monthly pay Member must serve two years before they are fully vested Member contributes at least 3% SBP Once the member dies retirement pay stops Full coverage is 55% of retirement pay Member pays a monthly premium

Resources Military Fleet and Family Center/Great Life Hawaii https://jbphh.greatlifehawaii.com/support/military-family-support- center/personal-finance-rao-programs Military One Source https://www.militaryonesource.mil/financial-legal/personal-finance VFW https://www.vfw.org/assistance/va-claims-separation-benefits

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