There has been a SECDEF memo flying around the interwebs that is being misinterpreted. People think it might let them retire at the 2-year mark as an O5 or O6, but there has been no change to current policy (which requires 3 years). Here is the response from PERS:
“Some of you have been fielding queries about the attached memo so wanted to address this for everyone. The memo does delegate authority to the Service Secretaries to reduce time in grade requirements. However, this delegation does not equate to Service policy. We are still awaiting on how the Navy will implement any changes in time in grade requirements.
So for now, please inform any folks inquiring about it that no formal Navy policy has been promulgated based on the new authority. And current policy stands.”
I did not attach the memo because this guy is not in the habit of posting SECDEF memos on a public blog.