An Official U.S. Navy mobile application, produced by the Navy PMW 240 Program.
Revised for 2019, the MyNavy Financial Literacy application provides Navy personnel with information to help them achieve their personal financial goals and meet the Navy’s financial literacy education requirements. This app allows Service members and their families to access financial literacy education anywhere, anytime via their mobile devices.
The National Defense Authorization Act (NDAA FY16) made significant changes to the military retirement system and mandated that Navy personnel obtain additional financial literacy training. This app supports that training via checklists, videos, and a compendium of in-app and online resources.
The application is divided into the following sections for ease of use:
-- Financial Literacy Touchpoint Training Checklists offers checklists to track the financial training courses required at each professional and personal touchpoint throughout a Service member’s career. Checklists include Arrival at various duty stations, Promotions and Entitlement to Continuation Pay, Marriage and Divorce, Birth of a First Child, and Pre- and Post-deployment.
-- Financial Literacy Resources includes information on Banking and Financial Management, Credit and Debt, Financial Planning and Spending Plans, Investments, Insurance, and Military Pay and Entitlements.
-- Blended Retirement System (BRS) Resources offers various types of information, links, and videos. Of note, information is provided about the Navy Standard Integrated Personnel System (NSIPS), allowing Service members to view their BRS status, verify BRS election, elect Continuation Pay, and acknowledge review of their Budget/Financial Plan at designated career touchpoints.
-- Calculators provide a comparison between the High-3 retirement plan and BRS, and estimate a Sailor’s retirement benefits under BRS, High-3, Final Pay and REDUX retirement plans.
-- Courses offers access to the following courses: BRS Opt-In Training, The Uniformed Services Blended Retirement System: Your Retirement System, Leader Training to Introduce the BRS, BRS Financial Counselor/Educator Course, BRS Lump Sum Course and Family Financial Planning.
The app also includes a Favorites section for bookmarking app pages and an Emergency section with information on a variety of crisis-related topics. The MyNavy Financial Literacy app is also searchable. Download yours today!