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33 USC 763-2 - Additional increase of retired pay
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US Code > Navigation and Navigable Waters > 33 USC 763-2 - Additional increase of retired pay
Sec. 763-2. Additional increase of retired pay
The annual rate of retired pay of each person retired under section 763 of this title, as amended and supplemented, shall be increased, effective on the first day of the first calendar month following July 9, 1956, in accordance with the following schedule:
If retired pay commences between—
Retired pay not in excess of $1,500 shall be increased by—
Retired pay in excess of $1,500 shall be increased by—
June 20, 1918, and June 30, 195512 per centum8 per centum.
July 1, 1955, and December 31, 195510 per centum7 per centum.
January 1, 1956, and June 30, 19568 per centum6 per centum.
July 1, 1956, and December 31, 19566 per centum4 per centum.
January 1, 1957, and June 30, 19574 per centum2 per centum.
July 1, 1957, and December 31, 19572 per centum1 per centum.
Such annual increase in retired pay shall not exceed the sum necessary to increase such retired pay to $4,104. The monthly installment of each retired payment so increased shall be fixed at the nearest dollar.
Sections: 748a 749 750 752b 754a 763 763-1 763-2 763a 763a-1 763a-2 763b 763c 764 765
Last modified: July 21, 2011
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