Page:United States Statutes at Large Volume 100 Part 1.djvu/719

 PUBLIC LAW 99-348—JULY 1, 1986

100 STAT. 683

TITLE V—MISCELLANEOUS PROVISIONS Sec. 501. Under Secretary of Defense for Acquisition. Sec. 502. Limitation on expenditure of funds to procure T-46 trainer aircraft. Sec. 503. Postponement of a certain Department of Defense contract.

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TITLE I—RETIREMENT PROGRAM AMENDMENTS SEC. 101. RETIRED PAY MULTIPLIER Chapter 71 (relating to computation of retired pay) is amended by adding at the end the following new section: "§ 1409. Retired pay multiplier

lo use 1409

"(a) RETIRED PAY MULTIPLIER FOR REGULAR-SERVICE NONDISABILITY RETIREMENT.—In computing—

"(1) the retired pay of a member of a uniformed service who is retired under any provision of law other than— "(A) chapter 61 of this title (relating to retirement or separation for physical disability); or "(B) chapter 67 of this title (relating to retirement for non-regular service); or "(2) the retainer pay of a member who is transferred to the Fleet Reserve or the Fleet Marine Corps Reserve under section 6330 of this title, the retired pay multiplier (or retainer pay multiplier) is the percentage determined under subsection (b). "(b) PERCENTAGE.— "(1) GENERAL RULE.—Subject to paragraphs (2) and (3), the

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percentage to be used under subsection (a) is the product (stated as a percentage) of— "(A) 21/2, and "(B) the member's years of creditable service (as defined in subsection (c)). "(2)

REDUCTION APPLICABLE TO NEW-RETIREMENT MEMBERS

WITH LESS THAN 30 YEARS OF SERVICE.—In the case of a member who first became a member of a uniformed service after July 31, 1986, has less than 30 years of creditable service, and is under the age of 62 at the time of retirement, the percentage determined under paragraph (1) shall be reduced by— "(A) 1 percentage point for each full year that the mem'^ ber's years of creditable service are less than 30; and \ "(B) Via of 1 percentage point for each month by which the member's years of creditable service (after counting all full years of such service) are less than a full year. "(3) 75 PERCENT LIMIT.—In the case of a member with more than 30 years of creditable service, the percentage to be used under subsection (a) is 75 percent. "(c) YEARS OF CREDITABLE SERVICE DEFINED.—In this section, the term 'years of creditable service' means the number of years of service creditable to a member in computing the member's retired or retainer pay (including Vx2 of a year for each full month of service that is in addition to the number of full years of service of the member).". SEC. 102. ADJUSTMENTS OF RETIRED AND RETAINER PAY TO REFLECT CHANGES IN THE CONSUMER PRICE INDEX (a) IN GENERAL.—Section 1401a (relating to adjustments in retired pay to reflect changes in the Consumer Price Index) is amended by

lo use 1201 et «^910 USC 1331 et
 * ^9Post, p. 696.

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