A bill to amend title 10, United States Code, to remove certain inequities in the Survivor Benefit Plan provided for under chapter 73 of such title, and for other purposes.

[AI summary unavailable — showing source text] Reduces the annuities payable to a surviving spouse over age 62 pursuant to the armed forces Survivor Benefit Plan by an amount equal to 50 percent of the amount received under title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act where such benefits were calculated on the basis of the deceased's service in the uniformed services and calculated assuming that the deceased lived to age 65. Entitles certain individuals who were widowed on or before September 20, 1972, and who are not covered by the Survivor Benefit Plan, to an annuity. Directs that any individual who is entitled to retired or retainer pay and who did not elect to participate in the Survivor Benefit Plan may do so within 270 days after the effective date of this Act while continuing to participate in the Retired Serviceman's Family Protection Plan.…