"Members of the military community and their families in Pennsylvania and other states face unique challenges and risks when it comes to protecting their investments, avoiding fraudulent pitches, and planning for retirement," said Secretary of Banking and Securities Robin L. Wiessmann. "We are pleased to provide this useful tool to the men and women who defend our commonwealth and our country."
Wiessmann noted that 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 has been in place for decades or choose a new, blended plan that includes both a pension and contributions to the federal government's Thrift Savings Plan. Those who enlist in 2018 and later years will automatically go into the blended system. The "Financial Field Manual" can help the former group choose which plan works best for their individual financial needs and goals.
The "Financial Field Manual" was produced by Kiplinger's Personal Finance and is made possible by a partnership between the PA Department of Banking and Securities, the Investor Protection Trust, and the Investor Protection Institute.
Anyone can contact the Department of Banking and Securities at 1-800-PA-BANKS or 1-800-600-0007 to ask questions or file complaints about financial transactions, companies, or products. Members of the public are also invited to connect to the department through Facebook and Twitter, or subscribing to the department's newsletter.
Media contact: Ed Novak, 717-783-4721
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/banking-and-securities-department-publishes-financial-field-manual-for-military-veterans-300411699.html
SOURCE Pennsylvania Department of Banking and Securities