I 
117TH CONGRESS 
1ST SESSION H. R. 5888 
To improve the provision of financial literacy training and information relating 
to the Blended Retirement System to members of the Armed Forces, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 4, 2021 
Mrs. WAGNER (for herself and Mr. DAVID SCOTT of Georgia) introduced the 
following bill; which was referred to the Committee on Armed Services, 
and in addition to the Committee on Oversight and Reform, for a period 
to be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
A BILL 
To improve the provision of financial literacy training and 
information relating to the Blended Retirement System 
to members of the Armed Forces, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Readiness 
of America’s Servicemembers Act of 2021’’. 
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SEC. 2. IMPROVEMENTS TO FINANCIAL LITERACY TRAIN-
ING. 
(a) IN GENERAL.—Subsection (a) of section 992 of 
title 10, United States Code, is amended— 
(1) in paragraph (2)(C), by striking ‘‘grade E– 
4’’ and inserting ‘‘grade E–6’’; and 
(2) by adding at the end the following new 
paragraph: 
‘‘(5) In carrying out the program to provide 
training under this subsection, the Secretary con-
cerned shall— 
‘‘(A) require the development of a standard 
minimum curriculum across all military depart-
ments for such training that— 
‘‘(i) focuses on ensuring that members 
of the armed forces who receive such train-
ing develop proficiency in financial literacy 
rather than focusing on completion of 
training modules; 
‘‘(ii) is based on best practices in the 
financial services industry; and 
‘‘(iii) is designed to address the needs 
of members and their families; 
‘‘(B) ensure that such training— 
‘‘(i) is conducted by a registered in-
vestment adviser or a broker-dealer reg-
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istered with the Securities and Exchange 
Commission who utilizes instructors with 
advanced credentials (as determined by the 
Secretary); and 
‘‘(ii) is provided, to the extent prac-
ticable— 
‘‘(I) in a class held in person 
with fewer than 50 attendees; 
‘‘(II) one-on-one between the 
member and a financial services coun-
selor or a qualified representative de-
scribed in subclause (III) or (IV) of 
subsection (b)(2)(A)(ii); or 
‘‘(III) remotely via electronic 
means; 
‘‘(C) ensure that— 
‘‘(i) an in-person or remote class de-
scribed in subparagraph (B)(i)(I) is avail-
able to the spouse of a member; and 
‘‘(ii) if a spouse of a member is un-
able to attend such a class in person— 
‘‘(I) training is available to the 
spouse 
through 
the 
Military 
OneSource Program; and 
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