S.145 - SBP Benefits Improvement Act of 2001107th Congress (2001-2002)
|Sponsor:||Sen. Thurmond, Strom [R-SC] (Introduced 01/23/2001)|
|Committees:||Senate - Armed Services; Veterans' Affairs|
|Latest Action:||06/19/2002 Sponsor introductory remarks on measure.|
This bill has the status Introduced
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Subject — Policy Area:
- Armed Forces and National Security
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Summary: S.145 — 107th Congress (2001-2002)All Bill Information (Except Text)
SBP Benefits Improvement Act of 2001 - Amends Federal provisions concerning the military Survivor Benefit Plan (SBP) to adjust the basic SBP annuity amount for surviving spouses age 62 or over of former military personnel to: (1) 35 percent of the retired pay of the decedent, for months beginning on or before the enactment of this Act (current law); (2) 40 percent of such pay, for months beginning after such date and before October 2004; (3) 45 percent, for months beginning after September 2004; and (4) 55 percent, for months beginning after September 2011.
Introduced in Senate (01/23/2001)
Adjusts similarly the authorized percentage amounts of SBP supplemental annuity authorized for such spouses.
Directs the Secretary of Defense to ensure appropriate adjustments in the computation of retired pay deductions for such supplemental annuities made necessary by this Act.