This article will provide you with the complete questions and answers for CBT blended retirement system.
_____, is an incentive designed to encourage members to continue serving at critical points in their career and may be provided to you mid-career for your commitment to at least 3 additional years of service.
The addition of interest added to the principal in a retirement account over time is called _____.
The BRS calculator enables you to _____.
-estimate your potential retirement savings and income
The following individuals can make the final BRS opt-in decision for you:
-Only you can make this decision.
Under the BRS, the basic components of your retirement plan are: (Select all that apply):
-Up to an additional 4% Government-matching contributions to a TSP account based on Service member contribution rates
-Eligibility for a Lump Sum payment option
-Automatic 1% Government contribution to a Thrift Savings Plan account
-Monthly retired pay at 40% in return for at least 20 Years of Service
Money that is vested in a retirement account is _____.
-the employee's to keep along with all interest earned and employer-matching contributions
Service member decisions to opt into the Blended Retirement System (BRS) _____.
-cannot be reversed at any time once made (correct)
8) Before making a final decision on a Uniformed Services retirement plan, Service members need to consider _____.
-all of the above
9) The legacy "High-3" retirement system for the Uniformed Services requires Service members to serve _____ years of active duty, or qualifying Years of Service for the Reserve Component, in order to qualify to receive the defined-benefit retired pay.
10) You have the opportunity to opt into the BRS because you are either an Active Component (AC) member who will have completed fewer than _____ or a Reserve Component (RC) member who will have fewer than _____ as of December 31, 2017.
-12 YOS, 4,320 retirement points
11) A pension is _____.
a retirement system in which an employee continues receiving regular income after he/she retires
12) Which of the following are advantages to Service members who participate in the Blended Retirement System with respect to the Thrift Savings Plan?
-Government-automatic [1%] contributions and Government-matching contributions up to an additional 4% of basic pay
13) Financial experts advise you will need approximately _____ of your pre-retirement income in order to maintain your standard of living after you retire.
14) The Blended Retirement System (BRS) and the legacy "High-3" retirement system both require _____ Years of Service (YOS) in order to qualify for monthly retired pay.