SMART Save Act of 2024

The SMART Save Act of 2024 requires the Department of Defense to improve financial literacy training for active-duty service members and their spouses. It mandates a standardized curriculum focused on practical financial skills (not just completing modules), delivered in small in-person groups or one-on-one sessions, with online options only when necessary. The bill also requires that training include retirement planning information like Thrift Savings Plan forms and counselor contacts. Additionally, the Department must submit a report within three years assessing training effectiveness using localized data, followed by a six-year follow-up report.