Page:United States Statutes at Large Volume 106 Part 3.djvu/909

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PUBLIC LAW 102-484—OCT. 23, 1992 106 STAT. 2703 another source approved by the Secretary and be afforded, on request, counseling on such job opportunities. (d) REGULATIONS.— The Secretary oi each military department may prescribe regulations and policies regarding the criteria for eligibility for eany retirement by reason of eligibility pursuant to this section and for the approval of applications for such retirement. Such criteria may include factors such as grade, years of service, and skill. (e) COMPUTATION OF RETIRED PAY. —Retired or retainer pay of a member retired (or transferred to the Fleet Reserve or Fleet Marine Corps Reserve) under a provision of title 10, United States Code, by reason of eligibility pursuant to subsection (b) shall be reduced by Vi2th of 1 percent for each full month by which the number of months of active service of the member are less than 240 as of the date of the member's retirement (or transfer to the Fleet Reserve or Fleet Marine Corps Reserve). (f) FUNDING. —(1) Notwithstanding section 1463 of title 10, United States Code, and subject to the availability of appropriations for this purpose, the Secretary of each military department shall provide in accordance with this section for the payment of retired pay payable during the fiscal years covered by the other provisions of this subsection to members of the Armed Forces under the jurisdiction of that Secretary who are being retired under the authority of this section. (2) In each fiscal year in which the Secretary of a military department retires a member of the Armed Forces under the authority of this section, the Secretary shall credit to a subaccount (which the Secretary shall establish) Mdthin the appropriation account for that fiscal year for pay and allowances of active duty members of the Armed Forces under the jurisdiction of that Secretary such amount as is necessary to pay the retired pay payable to such member for the entire mitial period (determinea under paragraph (3)) of the entitlement of that member to receive retired pay. (3) The initial period applicable under paragraph (2) in the case of a retired member referred to in that paragraph is the number of years (and any firaction of a year) that is equal to the difference between 20 years and the mmiber of years (and anyfiractionof a year) of service that were completed by the member (as computed under the provision of law used for determining the member's years of service for eligibility to retirement) before being retired under the authority of this section. (4) The Secretary shall pay the member's retired pay for such initicd period out or amounts credited to the subaccount under paragraph (2). The amounts so credited with respect to that member shall remain available for payment for that period. (5) For purposes of this subsection— (A) the transfer of an enlisted member of the Navy or Marine Corps to the Fleet Reserve or Fleet Marine Corps Reserve shall be treated as a retirement; and (B) the term "retired pay" shall be treated as including retainer pay. (g) COORDINATION WITH OTHER SEPARATION PROVISIONS. — <1) A member of the Armed Forces retired under the authority of this section is not entitled to benefits under section 1174, 1174a, or 1175 of title 10, United States Code. (2) Section 638a(b)(4)(C) of title 10, United States Code, is amended by inserting "(oUier than by reason of eligibility pursuant