Respec stands for respecification. In Tabula Rasa Credit, the term means your can “re-specify” where you allocated your character points. In Tabula Rasa, your abilities points and skill points will be reset You will be able to choose where your ability points are allocated, choose new powers, and get rid of powers that you didn’t like.

After the patch that contains the Rage change is published to the live servers, the first time you log into a character all of your attribute and skill points will have been reset. You will need to re-allocate attribute and skill points at that time.