Sec. 633. Promotion of financial literacy concerning retirement among members of the Armed Forces
156 words·~1 min read·
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The Secretary of Defense shall develop programs of financial literacy for members of the Armed Forces to assist members in better understanding retirement options and planning for retirement. The Secretary of Defense shall develop information to be provided to members of the Armed Forces who are eligible to make the election provided for in subsection (b)(1) of section 1415 of title 10, United States Code, to assist such members in making an informed comparison for purposes of the election between the following:
The value of the lump sum payment of retired pay and monthly payments provided for in such subsection (b)(1) by reason of the election, including the manner in which the lump sum and such monthly payments are determined for any particular member. The value of retired pay payable under subsection
(d)of such section in the absence of the election, including the manner in which such retired pay is determined for any particular member.