Uniformed Services Retired and Retainer Pay Equalization Act

Uniformed Services Retired and Retainer Pay Equalization Act - Authorizes the recomputation of the retired or retainer pay for members and former members of the uniformed services if such pay was computed under the rates of basic pay in effect after September 30, 1949, and before January 1, 1971. Stipulates that such recomputation shall be based on the rates of basic pay in effect on January 1, 1974. Sets forth the age at which such individuals become entitled to the recomputed pay.

Increases the basic pay for specified officers.