SBP Benefits Improvement Act of 1999 - Amends Federal provisions concerning the military Survivor Benefit Plan (SBP) to adjust the basic SBP annuity amount for surviving spouses age 62 or over of former military personnel to: (1) 35 percent of the retired pay of the decedent, for months beginning on or before the enactment of this Act (current law); (2) 40 percent of such pay, for months beginning after the date of enactment of this Act until October 2004; and (3) 45 percent of such pay, for months beginning on or after October 2004.
Adjusts similarly the authorized percentage amounts of SBP supplemental annuity authorized to be provided for such surviving spouses.
Directs the Secretary of Defense to ensure appropriate adjustments in the computation of retired pay reductions for such supplemental annuities made necessary by this Act.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3595)
Read twice and referred to the Committee on Armed Services.
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