PAYMENT DATE FOR RETIRED AND RETAINER PAY.

SEC. 632. PAYMENT DATE FOR RETIRED AND RETAINER PAY.(a) Setting Payment Date.—Section 1412 of title 10, United States Code, is amended—(1) by striking “Amounts” and inserting “(a) Rounding.—Amounts”; and(2) by adding at the end the following new subsection:“(b) Payment Date.—Amounts of retired pay and retainer pay due a retired member of the uniformed services shall be paid on the first day of each month beginning after the month in which the right to such pay accrues.”.(b) Clerical Amendments.—(1) Section heading.—The heading of such section is amended to read as follows:“§ 1412. Administrative provisions” .(2) Table of sections.—The table of sections at the beginning of chapter 71 of such title is amended by striking the item relating to section 1412 and inserting the following new item: “1412. Administrative provisions.”. (c) Effective Date.—Subsection (b) of section 1412 of title 10, United States Code, as added by subsection (a), shall apply beginning with the first month that begins more than 30 days after the date of the enactment of this Act.