United States Code (Last Updated: May 24, 2014) |
Title 10. ARMED FORCES |
SubTitle A. General Military Law |
Part II. PERSONNEL |
Chapter 71. COMPUTATION OF RETIRED PAY |
§ 1412. Administrative provisions
Latest version.
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(a) Rounding.— Amounts computed under this chapter, if not a multiple of $1, shall be rounded to the next lower multiple of $1. (b) Payment Date.— Amounts of retired pay and retainer pay due a retired member of the uniformed services shall be paid on the first day of each month beginning after the month in which the right to such pay accrues.
(Added Pub. L. 99–348, title I, § 105, July 1, 1986 , 100 Stat. 691; amended Pub. L. 111–383, div. A, title VI, § 632(a), (b)(1), Jan. 7, 2011 , 124 Stat. 4240.)
Amendments
2011—Pub. L. 111–383, § 632(b)(1), substituted “Administrative provisions” for “Rounding to next lower dollar” in section catchline.
Pub. L. 111–383, § 632(a), designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).
Effective Date Of Amendment
Pub. L. 111–383, div. A, title VI, § 632(c),