SMART Save Act of 2024

The SMART Save Act of 2024 amends military financial literacy training requirements to better serve active-duty service members and their spouses. It mandates standardized, practical training curricula based on established financial literacy best practices, prioritizing in-person sessions with small groups (under 100 attendees) or one-on-one counseling over computer-based methods when feasible. The bill requires service members to receive all relevant retirement forms (including Thrift Savings Plan details) and contact information for financial counselors during training. It also ensures spouses can access training through in-person classes or online programs managed by the Department of Defense. The Act includes reporting requirements for the Secretary of Defense to assess training effectiveness after 3 years and address any identified needs.