To amend title 10, United States Code, to eliminate the two-tier system for calculating the amount of an annuity paid under the Survivor Benefit Plan for the Armed Forces.

Amends Federal armed forces provisions relating to annuity payments under the Survivor Benefit Plan (SBP) to eliminate the two-tiered system of payment amounts (a certain percentage of the deceased's base salary to those beneficiaries age 62 or over, and a lower amount for those below age 62) in the calculation of annuity payments for eligible beneficiaries of active-duty and reserve members of the armed forces. Implements in its place a level percentage of base salary for beneficiaries of active-duty members (notwithstanding their age), and a level percentage of base salary for beneficiaries of reserve members.

Repeals current Federal provisions which: (1) reduce the annuity amount for beneficiaries upon attaining age 62; and (2) base eligibility for such annuity payments on participation in the SBP on or before a specified date.