The deadline is fast approaching for Marines to decide whether to opt-in to the new Blended Retirement System or stick with the legacy system.
And as of July 10, 118,000 eligible Marines have yet to make a choice, according to a MARADMIN posted Monday.
Marines have until December 31 to make their selection via Marine Online, or MOL. The Blended Retirement System is irreversible after a Marine registers on MOL.
And as of May 2, 2018, 35,743 Marines opted-in the new retirement system out of 175,627 eligible.
All new Marines entering the Corps as of January 2018 are automatically enrolled into the Blended Retirement System. Active-duty Marines with fewer than 12 years of service as of Dec. 31, 2017, and Marine reservists with less than 4,320 retirement points are eligible to opt-in to the new system.
The Blended Retirement System was born out of the fiscal year 2016 National Defense Authorization Act.
“Commanders are required to inform all opt-in eligible Marines who have not made a retirement choice of the 31 December 2018 deadline,” the MARADMIN reads.
Shawn Snow is the senior reporter for Marine Corps Times and a Marine Corps veteran.