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Improved Financial Literacy and Retirement Training for Service Members and Families.

This Act significantly upgrades mandatory personal finance training for service members, raising the requirement to grade E-6. It mandates a standardized curriculum focused on achieving practical financial proficiency, moving away from simple module completion. The law ensures training is primarily delivered in person by qualified counselors, and crucially, grants spouses access to the same educational resources.
Key points
Mandatory financial training is now required up to grade E-6 (previously E-4), expanding the reach of the program.
Training must be primarily conducted in person by qualified counselors and must include essential retirement planning information and forms, such as those for the Thrift Savings Plan.
Spouses of service members gain access to in-person classes or equivalent online programs, supporting overall family financial stability.
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Additional Information
Print number: 118_S_3837
Sponsor: Sen. Murray, Patty [D-WA]
Process start date: 2024-02-29
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

SMART Save Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3837.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-02-29.

What are the main provisions?

Key points include:

  • Mandatory financial training is now required up to grade E-6 (previously E-4), expanding the reach of the program.
  • Training must be primarily conducted in person by qualified counselors and must include essential retirement planning information and forms, such as those for the Thrift Savings Plan.
  • Spouses of service members gain access to in-person classes or equivalent online programs, supporting overall family financial stability.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Murray, Patty [D-WA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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Security Education