A bill to equalize the retired pay of members of the uniformed services retired prior to June 1, 1958, whose retired pay is computed on laws enacted on or after October 1, 1949.

Entitles retired members of the uniformed services to have their retired pay recomputed on the basis of rates of basic pay that are now or may hereafter be authorized for uniformed services personnel in an active duty status.

Requires that such members have retired prior to June 1, 1958, and have had their retired pay computed on laws enacted on or after October 1, 1949.