Retired Pay Law and Legal Definition

"Retired pay" means “retired pay, retirement pay, retainer pay, or equivalent pay, payable under a statute to a member or former member of a uniformed service, and an annuity payable to an eligible beneficiary of the member or former member under chapter 73 of title 10 [10 USCS §§ 1431 et seq.] or section 5 of the Uniformed Services Contingency Option Act of 1953 (67 Stat. 504), but does not include--

(A) a benefit provided under statutes administered by the Department of Veterans Affairs;

(B) retired pay, retirement pay, retainer pay, or equivalent pay, awarded before September 1, 1954, to an individual, insofar as the individual, before September 1, 1954--

(i) was convicted of an offense named by subsection (b) of section 8312 of this title [5 USCS § 8312], to the extent provided by that subsection; or (ii) violated section 8314 or 8315(a)(1) of this title [5 USCS § 8314 or 8315(a)(1)];

(C) retired pay, retirement pay, retainer pay, or equivalent pay, awarded before September 26, 1961, to an individual, insofar as the individual, before September 26, 1961--

(i) was convicted of an offense named by subsection (c) of section 8312 of this title [5 USCS § 8312], to the extent provided by that subsection; or

(ii) violated section 8315(a)(2) of this title [5 USCS § 8315(a)(2)]; or

(D) an annuity payable to an eligible beneficiary of an individual under chapter 73 of title 10 [10 USCS §§ 1431 et seq.] or section 5 of the Uniformed Services Contingency Option Act of 1953 (67 Stat. 504), if the annuity was awarded to the beneficiary, or if retired pay was awarded to the individual, before September 26, 1961, insofar as the individual, on the basis of whose service the annuity was awarded, before September 26, 1961--

(i) was convicted of an offense named by section 8312 of this title [5 USCS § 8312], to the extent provided by that section; or

(ii) violated section 8314 or 8315 of this title [5 USCS § 8314 or 8315].” (5 USCS § 8311)