View all text of Chapter 745 [§ 7361 - § 7362]
§ 7362. Recomputation of retired pay to reflect advancement on retired list
(a)Entitlement to Recomputation.—An enlisted member or warrant officer of the Army who is advanced on the retired list under section 7344 of this title is entitled to recompute his retired pay in accordance with this section.
(b)Formula.—The monthly retired pay of a member entitled to recompute that pay under this section is computed by multiplying—
(1) the member’s retired pay base (as computed under section 1406(c) or 1407 of this title), by
(2) the retired pay multiplier prescribed in section 1409 of this title for the number of years credited to the member under section 1405 of this title.
(c)Rounding to Next Lower Dollar.—The amount computed under subsection (b), if not a multiple of $1, shall be rounded to the next lower multiple of $1.
(Aug. 10, 1956, ch. 1041, 70A Stat. 233, § 3992; Pub. L. 96–342, title VIII, § 813(c), Sept. 8, 1980, 94 Stat. 1104; Pub. L. 96–513, title V, § 512(10), Dec. 12, 1980, 94 Stat. 2929; Pub. L. 97–295, § 1(40), Oct. 12, 1982, 96 Stat. 1297; Pub. L. 98–94, title IX, §§ 922(a)(8), 923(a)(1), (2)(G), Sept. 24, 1983, 97 Stat. 641–643; Pub. L. 99–348, title II, § 202(b), July 1, 1986, 100 Stat. 695; Pub. L. 103–337, div. A, title VI, § 635(a)(3), Oct. 5, 1994, 108 Stat. 2788