To amend title 10, United States Code, to revise the provisions of law relating to payment of retired pay of retired members of the Armed Forces to former spouses, and for other purposes.

Requires that the disposable retired pay of a member or former member of the armed forces to whom a final decree of divorce, dissolution, annulment, or legal separation is issued before the date that such member begins to receive retired pay, for purposes of determining the amount of such payments to the former spouse, shall be computed based on the pay grade and length of service of the member while married to the former spouse. Requires the former spouse to make application for his or her share of such retired pay within one year from the date of the final decree.

Amends the Uniformed Services Former Spouses' Protection Act to require the Secretary of Defense to prescribe regulations to provide that a former spouse of a member of the armed forces loses commissary and exchange privileges when a decree of divorce, dissolution, or annulment becomes final.