Military Pensions: Servicemembers Need Better Information to Support Retirement Savings Decisions

Abstract

In 2016, DOD and the military service branches began providing training to help servicemembers make informed decisions about the military's new retirement system. The training courses incorporated many effective financial literacy practices. However, some of them do not assess servicemembers' financial literacy. DOD could use such assessments to ensure its courses are effective and revise the courses in areas where servicemembers need more assistance. DOD could also do more to help servicemembers understand how lump sums - an optional form of payment for some retirement benefits under the new system - are calculated.

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Document Details

Document Type
Technical Report
Publication Date
Sep 19, 2019
Accession Number
AD1157388

Entities

People

  • Adam Wendel
  • Alicia Cackley
  • Anjali Tekchandani
  • Charles A. Jeszeck
  • Cynthia Nelson
  • Frank Todisco
  • Joseph Silvestri
  • Mark M. Glickman
  • Mimi Nguyen
  • Seyda Wentworth
  • Sheila R. Mccoy
  • Stacy Ouellette
  • Stephen C. Yoder
  • Vincent Balloon
  • Virginia Chanley

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Biomedical

DTIC Thesaurus Topics

  • Active Duty
  • Air Force
  • Basic Training
  • Business Administration
  • Communication Systems
  • Department Of Defense
  • Education
  • Federal Law
  • Governments
  • Law
  • Local Governments
  • Management Personnel
  • Materials
  • Military Personnel
  • Personnel Management
  • Social Media
  • Training

Readers

  • Government Contracting/Procurement.
  • Instructional Design and Training Evaluation.
  • Rehabilitation and Prosthetic Care for Military Service Members and Veterans with Limb Loss or Disability.