Bill > S3837

This bill, the SMART Save Act of 2024 or the Service Members Are Ready To Save Act of 2024, aims to improve financial literacy training for members of the Armed Forces. Specifically, it amends existing law to require the use of a standardized curriculum based on best practices, mandate in-person or one-on-one training where possible, ensure spouse access to training, and present the training in a way that can be easily understood by enlisted personnel. The bill also requires the provision of retirement information, including Thrift Savings Plan forms and contact information for financial counselors, during the training and counseling sessions. Additionally, the bill requires the Secretary of Defense to submit reports on the effectiveness of the financial literacy training and counseling, and whether further improvements are necessary.

Military Affairs and Security

https://www.congress.gov/bill/118th-congress/senate-bill/3837/all-info