Military Personnel: DOD Comments on GAO's Report on More DOD Actions Needed to Address Servicemembers' Personal Financial Management Issues

In response to a Congressional request, we issued a report in April 2005 on the Department of Defense's (DOD) efforts to address personal financial management (PFM) issues encountered by its servicemembers and their families. In that report, we made recommendations to the Secretary of Defense to enhance servicemembers' financial conditions and the effectiveness of DOD's PFM programs and training. On March 17, 2005, we provided a draft of that report to DOD for review and comment. DOD did not provide comments in time to incorporate them in the final GAO report that went to printing on April 22, 2005. To present DOD's comments and provide our perspective on them, this report briefly summarizes our April 2005 report's objectives, results, and recommendations, along with DOD's comments and our evaluation of the comments. We answered three questions in our April 2005 report: (1) To what extent does deployment impact the financial conditions of active duty servicemembers and their families? (2) Does DOD have an oversight framework for evaluating military programs that assist both deployed and non-deployed servicemembers in managing their personal finances? And (3) To what extent are junior enlisted servicemembers receiving required personal financial management training?