Oct. 14, 2020 —
Here are a couple of notes from Master Chief Rob Bushey:
Question regarding blended retirement
Point of Contact: Chief Petty Officer Tim Hoagland, Timothy.M.Hoagland@uscg.mil
On Oct. 1, 2020, in accordance with Federal government-wide regulations, blended retirement system (BRS) automatic enrollment of new Uniformed Service members into the Thrift Savings Plan (TSP) increases from three percent to five percent. This change will impact all automatically-enrolled BRS members with a pay entry base date on or after October 1, 2020. This change will not affect the contributions by participants who were automatically enrolled in TSP on or before September 30, 2020, as long as those members continue to contribute to TSP from their own basic pay or inactive duty pay. Unlike members who were automatically enrolled, a member who elected to opt into BRS will not be affected unless such member has a break in service.
All new accession going forward will be auto enrolled into the TSP at five percent of base pay. If any AUTO enrolled BRS member (DIEMS date before or after Oct. 1, 2020) reduces that TSP rate to zero percent at any time during the calendar year and remains at zero percent in December, that member will be re-enrolled January 1 of the following calendar year at a five percent individual contribution rate from the member’s basic pay. Basically forced savings to those members.
FORCECOM has been notified and implementing the new training guides at Coast Guard accession points. Here is a link for the new training guides.
Coast Guard Chief Petty Officer Foundation (CGCPOF)
(Point of Contact: Chief Petty Officer Scott Dupre)
A little bit about the Coast Guard Chief Petty Officer Foundation (CGCPOF)
How did the foundation come to be?
The idea for the Foundation began in 2015 when Chief Warrant Officer Fred Mann, a 96-year-old member of the Coast Guard Chief Petty Officers Association (CPOA), approached the CPOA President about bequeathing an annuity to the CPOA. Mann requested the CPOA establish the benevolent Fred Mann Family Lucky Bag Fund (FMFLB) to assist all members of the Coast Guard family in need. The CPOA Board of Directors authorized the establishment of the CGCPOF to administer the FMFLB and other donated funds. The CGCPOF is affiliated with the CPOA but operates as a separate entity.
Who does the foundation support?
The Coast Guard Chief Petty Officers Foundation (CGCPOF) was established on April 1, 2016 by Coast Guard chiefs to provide financial assistance to members of the Coast Guard Family who experience an unforeseen financial crisis; enlisted and officer, active duty, reserve, retired, and civilian members of the Coast Guard and members of their immediate families are eligible to apply for a grant.
The CGCPOF Fund exists to help meet the beneficiary’s basic needs, including but not limited to:
a. Housing/Lodging b. Medical treatment including medicine/prescriptions
c. Food d. Childcare/Respite
e. Emergency Travel f. Funeral Expenses
Disbursements WILL NOT be considered for, and are not limited to, the following:
a. Credit card expenses b. Legal expenses
c. Business debts d. Late fees or irresponsible financial acts
Where do I go to get assistance, donate, find out more?
We have recently established an updated website to replace old outdated/less user friendly site: http://www.cgcpof.org/ The website is currently blocked by Coast Guard Cyber, however MC Bushey will work to get this site authorized. The website is not activated fully yet, as we are still adding the Paypal account and updated application, once that is completed we will take down the old Wix site and this new site will go live.