10 U.S.C. § 1409: Retired pay multiplier

chapter 61 of this title (relating to retirement or separation for physical disability); or chapter 1223 of this title (relating to retirement for non-regular service); or the retainer pay of a member who is transferred to the Fleet Reserve or the Fleet Marine Corps Reserve under section 8330 of this title , 2½, and the member’s years of creditable service (as defined in subsection (c)). 1 percentage point for each full year that the member’s years of creditable service are less than 30; and 1 ⁄ 12 of 1 percentage point for each month by which the member’s years of creditable service (after counting all full years of such service) are less than a full year. In the case of a member who retires before January 1, 2007 , with more than 30 years of creditable service, the percentage to be used under subsection (a) is 75 percent. 75 percent; and 2½; and the member’s years of creditable service (as defined in subsection (c)) in excess of 30 years of creditable service, under conditions authorized for purposes of this subparagraph during a period designated by the Secretary of Defense for purposes of this subparagraph. paragraph (1)(A) shall be applied by substituting “2” for “2½”; clause (i) of paragraph (3)(B) shall be applied by substituting “60 percent” for “75 percent”; and clause (ii)(I) of such paragraph shall be applied by substituting “2” for “2½”. Pursuant to subparagraph (C), a member of a uniformed service serving on December 31, 2017 , who has served in the uniformed services for fewer than 12 years as of December 31, 2017 , may elect, in exchange for the reduced multipliers described in subparagraph (A) for purposes of calculating the retired pay of the member, to receive Thrift Savings Plan contributions pursuant to section 8440e(e) of title 5 . Except as provided in clauses (ii), (iii), (iv), and (v), a member of a uniformed service described in subparagraph (B) may make the election authorized by that subparagraph only during the period that begins on January 1, 2018 , and ends on December 31, 2018 . The Secretary concerned may extend the election period described in clause (i) for a member who experiences a hardship as determined by the Secretary concerned. A member of a uniformed service who returns to service after a break in service that occurs during the election period specified in clause (i) shall make the election described in subparagraph (B) within 30 days after the date of the reentry into service of the member. on or after the date on which such cadet, midshipman, or member of the Senior Reserve Officers’ Training Corps is appointed as a commissioned officer or otherwise begins to receive basic pay; and not later than 30 days after such date or the end of such election period, whichever is later. on or after the date on which such member is transferred from an inactive status to an active status or active duty; and not later than 30 days after such date or the end of such election period, whichever is later. Thrift Savings Plan contributions may not be made for a member making an election pursuant to subparagraph (B) for any period beginning before the date of the member’s election under that subparagraph by reason of the member’s election. The Secretary concerned shall prescribe regulations to implement this paragraph. In this section, the term “years of creditable service” means the number of years of service creditable to a member in computing the member’s retired or retainer pay (including 1 ⁄ 12 of a year for each full month of service that is in addition to the number of full years of service of the member).