Uniformed Services Retired and Retainer Pay Adjustment Act of 1981

Uniformed Services Retired and Retainer Pay Adjustment Act - Authorizes the recomputation of the retired or retainer pay for members and former members of the uniformed services under the rates of basic pay in effect on the date of the enactment of this Act. Entitles members and former members not eligible for retired pay for physical disability to such recomputed pay at age 65. Entitles those eligible for retired pay for physical disability to such recomputed pay one month after the enactment of this Act.