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There is one summary for this bill. Bill summaries are authored by CRS.

Title I: Incentive Pay for Participating in Ready Reserve - Authorizes a special payment to an enlisted member of a Ready Reserve component who: (1) has completed a total of at least two years of active duty, or a total of at least six years of service, in one or more of the armed services; (2) is accepted for enlistment, reenlistment, or extension of enlistment in a Reserve component, in a pay grade above E-2, for a period of at least three years; and (3) agrees to remain in the Ready Reserve for a corresponding period and to perform such drills or other duty as may be prescribed.

Allots this bonus payment to members as follows: (1) upon enlistment or reenlistment in a reserve component for a period of six years, an immediate payment of $300, and $450 upon completion of each year of that six-year period; and (2) upon completion of each year under any enlistment or reenlistment other than for a six-year period, an amount equal to $100 multiplied by the number representing his cumulative years of service in the Ready Reserve plus $100.

Requires a percentage refund where a member does not complete the first year of service under his enlistment or reenlistment if he has received the $300 amount prescribed above.

Title II: Reduced Retirement Pay At Age Fifty - Entitles a member of the Ready Reserve who is fifty years old or more to retired pay reduced by a specified percentage corresponding to his age. (Adds 37 U.S.C. 313; Amends 10 U.S.C. 1331, 1335).

There is one summary for this bill. Bill summaries are authored by CRS.

Title I: Incentive Pay for Participating in Ready Reserve - Authorizes a special payment to an enlisted member of a Ready Reserve component who: (1) has completed a total of at least two years of active duty, or a total of at least six years of service, in one or more of the armed services; (2) is accepted for enlistment, reenlistment, or extension of enlistment in a Reserve component, in a pay grade above E-2, for a period of at least three years; and (3) agrees to remain in the Ready Reserve for a corresponding period and to perform such drills or other duty as may be prescribed.

Allots this bonus payment to members as follows: (1) upon enlistment or reenlistment in a reserve component for a period of six years, an immediate payment of $300, and $450 upon completion of each year of that six-year period; and (2) upon completion of each year under any enlistment or reenlistment other than for a six-year period, an amount equal to $100 multiplied by the number representing his cumulative years of service in the Ready Reserve plus $100.

Requires a percentage refund where a member does not complete the first year of service under his enlistment or reenlistment if he has received the $300 amount prescribed above.

Title II: Reduced Retirement Pay At Age Fifty - Entitles a member of the Ready Reserve who is fifty years old or more to retired pay reduced by a specified percentage corresponding to his age. (Adds 37 U.S.C. 313; Amends 10 U.S.C. 1331, 1335).

There is one summary for this bill. Bill summaries are authored by CRS.

Title I: Incentive Pay for Participating in Ready Reserve - Authorizes a special payment to an enlisted member of a Ready Reserve component who: (1) has completed a total of at least two years of active duty, or a total of at least six years of service, in one or more of the armed services; (2) is accepted for enlistment, reenlistment, or extension of enlistment in a Reserve component, in a pay grade above E-2, for a period of at least three years; and (3) agrees to remain in the Ready Reserve for a corresponding period and to perform such drills or other duty as may be prescribed.

Allots this bonus payment to members as follows: (1) upon enlistment or reenlistment in a reserve component for a period of six years, an immediate payment of $300, and $450 upon completion of each year of that six-year period; and (2) upon completion of each year under any enlistment or reenlistment other than for a six-year period, an amount equal to $100 multiplied by the number representing his cumulative years of service in the Ready Reserve plus $100.

Requires a percentage refund where a member does not complete the first year of service under his enlistment or reenlistment if he has received the $300 amount prescribed above.

Title II: Reduced Retirement Pay At Age Fifty - Entitles a member of the Ready Reserve who is fifty years old or more to retired pay reduced by a specified percentage corresponding to his age. (Adds 37 U.S.C. 313; Amends 10 U.S.C. 1331, 1335).

There is one summary for this bill. Bill summaries are authored by CRS.

Title I: Incentive Pay for Participating in Ready Reserve - Authorizes a special payment to an enlisted member of a Ready Reserve component who: (1) has completed a total of at least two years of active duty, or a total of at least six years of service, in one or more of the armed services; (2) is accepted for enlistment, reenlistment, or extension of enlistment in a Reserve component, in a pay grade above E-2, for a period of at least three years; and (3) agrees to remain in the Ready Reserve for a corresponding period and to perform such drills or other duty as may be prescribed.

Allots this bonus payment to members as follows: (1) upon enlistment or reenlistment in a reserve component for a period of six years, an immediate payment of $300, and $450 upon completion of each year of that six-year period; and (2) upon completion of each year under any enlistment or reenlistment other than for a six-year period, an amount equal to $100 multiplied by the number representing his cumulative years of service in the Ready Reserve plus $100.

Requires a percentage refund where a member does not complete the first year of service under his enlistment or reenlistment if he has received the $300 amount prescribed above.

Title II: Reduced Retirement Pay At Age Fifty - Entitles a member of the Ready Reserve who is fifty years old or more to retired pay reduced by a specified percentage corresponding to his age. (Adds 37 U.S.C. 313; Amends 10 U.S.C. 1331, 1335).