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ICFE eNEWS #16-40 - November 22nd 2016

Kiplinger Updates Financial Field Manual for U.S. Servicemen and Women and their Families

The new guide focuses on major changes coming for the military retirement system, making the most of special benefits and protecting our protectors from financial fraud

Washington, D.C. - Men and women who join the armed forces between 2006 and the end of next year will face a new challenge: Whether to stick with the retirement system that's been in place for decades or choose a new, blended plan that includes both a pension and contributions to the government's Thrift Savings Plan. Those who enlist in 2018 and later years will automatically go into the blended system.

To help those who must make the choice, Kiplinger today announced the release of a completely updated edition of Kiplinger's Financial Field Manual: A Personal Finance Guide For Military Families. The popular guide, including a special section about the new retirement plan, will be distributed free to U.S. military bases around the world.

Sponsored by the Investor Protection Trust and the Investor Protection Institute, the guide - which is available at Kiplinger.com, InvestorProtection.org and iInvest.org  - also helps military members and their families make the most of special financial benefits open to them, including tax breaks, low-cost investments, legal protections, education opportunities and insurance programs.

This valuable resource is authored by Kiplinger's Personal Finance Columnist and Contributing Editor Kim Lankford, who has years of pertinent first-hand experience as a military spouse.

"The latest edition of the Financial Field Manual is a powerful weapon in the fight for financial security for the men and women who serve in the military," said Knight A. Kiplinger, Editor in Chief, Kiplinger's Personal Finance and Kiplinger.com. "We know they confront unique, often complex financial challenges. We want to help make sure they take advantage of the valuable benefits and investing opportunities available to them." He also thanked the Investor Protection Trust and the Investor Protection Institute for sponsoring the guide.

Don Blandin, President and CEO of Investor Protection Trust and the Investor Protection Institute, called attention to the Field Manual's warnings about financial fraud. "While members of the military have access to some very valuable benefits, they also find themselves singled out by unscrupulous swindlers who target and then prey on active and retired military personnel," he said. "Our step-by-step guide makes it very clear what military families should do... and what they should avoid."

Print and digital copies of the manual, which is now in its third edition, will be sent to Army, Navy, Marine Corps and Air Force bases in the U.S. and around the world. Additional recipients include First Lady Michelle Obama, who is a tireless advocate for military families, and the public affairs office of each military branch.

The following topics are covered in-depth by the manual:

  • Investing In Your Future: Make the Most of Special Savings Plans and New Rules (page 1)
  • What You Need to Know About the New Retirement System (page 3)
  • Your Military Benefits: Discover all the Advantages and Protections to Which You're Entitled (page 5)
  • Before and After Deployment: Take Smart Steps to Protect Your Family and Your Finances (page 8)
  • Buying and Selling a Home: Benefit From Special Perks and Resources to Ease Military Moves (page 11)
  • Financial Fraud Watch: Protect Yourself From Scams That Target Servicemembers (page 13)
  • Leaving the Military: Plan A Smooth Return to Civilian Life With This Checklist (page 15)
  • Financial Resources for Military Families (page 17)

"This valuable resource recognizes that members of the military and their families face unique challenges and risks when it comes to protecting their investments, avoiding fraudulent pitches, and planning for retirement," added Blandin.

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Sent by:

Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

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