Military Survivor Benefits Improvement Act of 2001

Military Survivor Benefits Improvement Act of 2001 - Adjusts the basic Survivor Benefit Plan (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 (current law), for months beginning on or before the enactment of this Act; (2) 40 percent of such pay, for months beginning after enactment of this Act until October 2004; (3) 45 percent of such pay for months beginning after September 2004 and before October 2011; and (4) 55 percent of such pay for months after September 2011.

Adjusts similarly the 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.