A bill to provide for increases in the readjustment allowances paid to Peace Corps volunteers and volunteer leaders, and to provide for the handling of such allowances.

Increases the readjustment allowance for Peace Corp volunteers from $75 per month of satisfactory service to $150 per month and increases the allowance for volunteer leaders from $125 per month of satisfactory service to $250 per month. Provides that upon written request of a volunteer or leader the President shall deposit on behalf of such volunteer or leader, in a savings account of a federally insured bank or savings and loan association, the amounts of the readjustment allowance which the volunteer or leader is entitled to receive for each month of satisfactory service performed by him. States that such allowance shall be increased by a percentage equal to the average percentage of increase in the basic pay of Federal employees.

Authorizes to be appropriated a sum of $10,000,000 to carry out the purposes of this Act.