Source: https://www.law.cornell.edu/uscode/text/14/423
Timestamp: 2017-08-18 05:05:37
Document Index: 635987076

Matched Legal Cases: ['§ 423', '§ 423', '§ 423', '§\u202f23', '§\u202f11', '§\u202f5', '§\u202f2', '§\u202f813', '§\u202f2', '§\u202f922', '§\u202f15', '§\u202f205', '§\u202f162', '§\u202f9', '§\u202f3', '§\u202f5', '§\u202f10', '§\u202f923', '§\u202f922', '§\u202f9']

14 U.S. Code § 423 - Computation of retired pay | US Law | LII / Legal Information Institute
U.S. Code › Title 14 › Part I › Chapter 11 › General › § 423
14 U.S. Code § 423 - Computation of retired pay
(1) The retired pay of a member who first became a member of a uniformed service (as defined in section 101 of title 10) before September 8, 1980, is determined by multiplying—
(1) In computing for the purpose of subsection (a) or (b) the number of years of service that may be credited to a member under section 1405 of title 10—
each full month of service that is in addition to the number of full years of service creditable to the member shall be counted as 1⁄12 of a year; and
(Aug. 4, 1949, ch. 393, 63 Stat. 525; Aug. 3, 1950, ch. 536, § 23, 64 Stat. 407; Pub. L. 85–422, § 11(b), May 20, 1958, 72 Stat. 132; Pub. L. 88–132, § 5(i), Oct. 2, 1963, 77 Stat. 214; Pub. L. 92–455, § 2, Oct. 2, 1972, 86 Stat. 761; Pub. L. 96–342, title VIII, § 813(f)(2), Sept. 8, 1980, 94 Stat. 1109; Pub. L. 97–295, § 2(12), Oct. 12, 1982, 96 Stat. 1302; Pub. L. 98–94, title IX, §§ 922(b), 923(d), Sept. 24, 1983, 97 Stat. 642, 643; Pub. L. 98–557, § 15(a)(3)(A), Oct. 30, 1984, 98 Stat. 2865; Pub. L. 99–348, title II, § 205(a), July 1, 1986, 100 Stat. 699.)
Based on title 14, U.S.C., 1946 ed., §§ 162a, 167, 175c, 185d (Apr. 12, 1902, ch. 501, § 9, 32 Stat. 101; Jan. 12, 1938, ch. 3, § 3, 52 Stat. 5; May 24, 1939, ch. 146, § 5, 53 Stat. 756; Feb. 21, 1946, ch. 34, § 10, 60 Stat. 29).
1983—Subsec. (a). Pub. L. 98–94, § 923(d), substituted “In computing the number of years of service by which the rate of 2½ percent is multiplied, each full month of service that is in addition to the number of full years of service creditable to a member is counted as one-twelfth of a year and any remaining fractional part of a month is disregarded” for “A fractional year of six months or more shall be considered a full year in computing the number of years of service by which the rate of 2½ percent is multiplied”.
Pub. L. 98–94, § 922(b), inserted “Retired pay, if not a multiple of $1, shall be rounded to the next lower multiple of $1.”
1982—Subsec. (b). Pub. L. 97–295 substituted “after September 7, 1980” for “on or after the date of the enactment of the Department of Defense Authorization Act, 1981”.
1980—Pub. L. 96–342 designated existing provisions as subsec. (a), substituted “Except as provided in subsection (b), the” for “The”, and added subsec. (b).
1963—Pub. L. 88–132 substituted “basic” for “active-duty” wherever appearing.
1958—Pub. L. 85–422 substituted “that may be credited to him under section 1405 of title 10” for “for which he was entitled to credit in the computation of his pay when last on active duty”.
Amendment by Pub. L. 85–422 effective June 1, 1958, see Pub. L. 85–422, § 9, May 20, 1958, 72 Stat. 130.