Retirement Financial Literacy & Education Strategy

The Thrift Savings Plan Open Elections Act of 2004 (Public Law 108-469) requires the Office of Personnel Management (OPM) to develop and implement a retirement financial literacy and education strategy for Federal employees as part of the retirement training offered by OPM under 5 U.S.C. 8350. The implementation of the strategy must educate Ferderal employees on the need for retirement savings and investment, and must provide information on how to plan for retirement and how to calculate the retirement investment needed to meet their retirement goals. OPM is required to submit a report to the Committee on Governmental Affairs of the Senate and the Committee on Government Reform of the House of Representatives on the Strategy not later then June 21st, 2005