Servicemember Employment Protection Act of 2014 - Makes unenforceable any clause of an agreement between an employer and employee requiring arbitration of a dispute arising under the Uniformed Services Employment and Reemployment Rights Act (USERRA). Provides an exception when both parties voluntarily agree to arbitration. Requires any issue as to whether such requirement applies to an arbitration clause to be determined by federal law and the validity or enforceability of an agreement to arbitrate to be determined by a court rather than an arbitrator.

Protects, under USERRA, an individual who is absent from employment in order to receive medical or dental treatment for an injury or illness incurred or aggravated in the line of duty.

Authorizes the suspension, termination, or debarment of federal contractors for repeated failures or refusals to comply with USERRA protections.