No CRS summary available for this bill.
This section expands the Department of Defense Military Retirement Fund to cover retired pay for all members of the uniformed services, including the commissioned corps of the National Oceanic and Atmospheric Administration and the Public Health Service, in addition to the armed forces and Coast Guard. It requires the Board of Actuaries, not later than January 1, 2027, to determine the original unfunded liability for prior NOAA and PHS service and to establish an amortization schedule for its liquidation through contributions from the Departments of Defense, Homeland Security, Commerce, and Health and Human Services. The section also revises fund purpose, contribution determinations, and payment procedures to reflect participation by these additional departments and services.