§ 763-2. — Additional increase of retired pay.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 33USC763-2]
TITLE 33--NAVIGATION AND NAVIGABLE WATERS
CHAPTER 16--LIGHTHOUSES
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:
Retired pay not in Retired pay in
If retired pay commences excess of $1,500 excess of $1,500
between-- shall be increased shall be
by-- increased by--
June 20, 1918, and June 30, 12 per centum........ 8 per centum.
1955.
July 1, 1955, and December 10 per centum........ 7 per centum.
31, 1955.
January 1, 1956, and June 30, 8 per centum......... 6 per centum.
1956.
July 1, 1956, and December 6 per centum......... 4 per centum.
31, 1956.
January 1, 1957, and June 30, 4 per centum......... 2 per centum.
1957.
July 1, 1957, and December 2 per centum......... 1 per centum.
31, 1957.
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.
(July 9, 1956, ch. 524, 70 Stat. 510.)
