Page 1 GAO-25-107666 Military Financial Education
As of January 1, 2018, all new military personnel are automatically enrolled in the
Blended Retirement System (BRS). Under BRS, service members receive
employer contributions to a personal Thrift Savings Plan (TSP) account—a
retirement savings and investment plan similar to a 401(k) plan offered by a
private sector employer. After retiring from military service, they may also receive
an annuity—regular monthly payments for life based on military earnings and
years of service. The Department of Defense (DOD) reported that as of
December 31, 2023, BRS participant TSP accounts had a total value of
approximately $28 billion.
DOD also implemented a new financial readiness training program for service
members. The training must be provided at certain points in a service member’s
career, such as initial entry, promotion, and pre- and post-deployment. The
training covers a range of topics, including retirement. In a 2024 report to
Congress, DOD noted the importance of this training, describing ongoing
financial education as vital for force readiness.
In 2019, we reported on the steps DOD had taken to help service members
understand BRS and to educate service members on saving for retirement
(GAO-19-631). That report included two recommendations, now implemented, for
DOD to evaluate the results of financial literacy training assessments and provide
disclosures that describe key parts of BRS. We have also previously reported on
the financial challenges some service members face, such as affording housing.
In reports published as recently as 2024, we have made recommendations to
DOD to address some of these concerns.
House Report 118-529 contains a provision for us to review how DOD and the
military services have implemented financial readiness training and assessed the
financial security of service members, as it relates to BRS. We are providing
information on BRS, how DOD’s financial readiness training efforts compare to
best practices for promoting financial education, and how DOD measures the
financial security of service members.
• DOD, through the military services, provides financial education training
throughout a service member’s time in the military, including information on
retirement. Service members also have access to other financial education
resources provided by DOD and the military services, including financial
counseling, mobile apps, and websites.
• DOD officials do not know the extent to which service members complete
some of the required financial readiness training because the military
U.S. Government Accountability Office
Education: DOD Should
Improve Oversight to Ensure Trainings
Effectively Support Service Members
-25-107666
Report to the Committee on Armed Services, House of Representatives
8, 2025
