A bill to authorize adjustment in the annuities payable under subchapter I of chapter 73 of title 10, United States Code, whenever retired or retainer pay is increased under section 1401a of that title.

Provides that whenever the retired or retainer pay of members of the Armed Forces is increased to reflect changes in the Consumer Price Index, each annuity taken under the retired serviceman's family protection plan election payable on the day before the effective date off such increase shall be increased at the same time by the same total percent. (Amends 10 U.S.C. 1434)