What is the financial education training ... - MCCS Okinawa



What is the financial education training requirement?Financial Education is required by federal law at the following action points:Training Event Code Training Event Code English DescriptionLife EventPRPERSONAL READINESS SEMINARFirst permanent duty stationFDANNUAL FINANCIAL EDUCATION (PCS)each subsequent duty station, in the case of a member in pay grade E-4 or below or in pay grade O-3 or belowFAANNUAL FINANCIAL EDUCATION (PROMOTION)promotion, in the case of a member in pay grade E-5 or below or in pay grade O-4 or belowFBANNUAL FINANCIAL EDUCATION (TSP)When the member vests in the Thrift Savings Plan (TSP)FGANNUAL FINANCIAL EDUCATION (Cont Pay)When the member becomes entitled to receive continuation payFCANNUAL FINANCIAL EDUCATION (Marriage)Life event: marriageFHANNUAL FINANCIAL EDUCATION (Divorce)Life event: divorceFEANNUAL FINANCIAL EDUCATION (Child Birth)Life event: birth of first childFFANNUAL FINANCIAL EDUCATION (Deployment)During pre-deployment training and during post-deployment trainingTATRANSITION READINESS SEMINAR (TRS)Transition point: regular to reserveTATRANSITION READINESS SEMINAR (TRS)Transition point: Separation from ServiceTATRANSITION READINESS SEMINAR (TRS)Transition point: retirementFLANNUAL FINANCIAL EDUCATION (Command)Is provided to the member at a military installationFJUpon Separation or Retirement.Financial education provided regarding separation or retirement.Not applicableAs a component of the initial entry training of the memberNot applicablelife event: disabling sickness or conditionNot applicableDuring leadership trainingWhat satisfies the training requirement?For the “PR” training code, Marines must complete the Personal Readiness Seminar. For the “TA” training code, Marines must complete the Transition Readiness Seminar. For others, a Marine has options:Option 1: Classroom based training offered by PFM or PFC. Certificates of completion are appropriate proof that the training requirement was satisfied. See: FinEdTouchPointCertificate.pptxOption 2: Training Rosters are also appropriate proof that the training requirement was satisfied.See: Financial Education Sample TRAINING ROSTER.xlsx.Option 3: One on one counseling with the PFM, CFS, or PFC (contractor personnel)Option 4: NMCRS provided training or budget counselingOption 5: (to be) Guided Discussions within the unit (using discussion guides that are currently in development)What classroom-based training counts?Training that in your estimation as a credentialed subject matter expert provides information relevant to the Action Point. Use your professional judgment.What if a Marine has multiple financial education training requirements at a time?In cases where a Marine reaches more than one action point within a short time period, the requirement may be satisfied with a single training provided material is relevant to all covered life cycle events. In these cases the T/E code for each requirement must still be entered into MCTFS to properly record completion of training.For example: if a Marine reports to the first permanent duty station and has gotten married en route, when the Marine arrives, they will complete the Personal Readiness Seminar (PRS). Since PRS includes budgeting and other topics appropriate to marriage, the command can run the codes for both PRS (PR) and marriage (FC).Why are we doing it this way? HQMC must provide completion statistics to DoD and to Congress in accordance with 10 U.S.C 992. The training codes will ensure the Marine Corps can meet this requirement. Once a Marine has completed a required training the command will enter a training event code to identify that the requirement has been met.What is a Marine doesn’t complete the required financial education? (Or the code isn’t run in the system?)If the financial education code has not been run within 30 days, the member and his/her unit will receive a diary feedback report (DFR) regarding the missing T/E code. If the financial education code has not been run within 365 days, the Marine will receive a notification advising him/her to complete the training.Notes for PFMsThe MCO is being updated to include this process. We'll also update the IG checklist to reflect these requirements in conjunction with the update to the order. Reference MCO 1700.37 for any questions regarding CFS qualification and requirements.Annually we will provide OSD with a report detailing how many Marines required training and how many Marines completed the required training. ................
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