37 U.S.C. § 322 : US Code - Section 322: Special pay: 15-year career status bonus for members entering service on or after August 1, 1986

Search 37 U.S.C. § 322 : US Code - Section 322: Special pay: 15-year career status bonus for members entering service on or after August 1, 1986

(a) Availability of Bonus. - The Secretary concerned shall pay a
bonus under this section to an eligible career bonus member if the
member -
(1) elects to receive the bonus under this section; and
(2) executes a written agreement (prescribed by the Secretary
concerned) to remain continuously on active duty until the member
has completed 20 years of active-duty service creditable under
section 1405 of title 10.
(b) Eligible Career Bonus Member Defined. - In this section, the
term "eligible career bonus member" means a member of a uniformed
service serving on active duty who -
(1) first became a member on or after August 1, 1986; and
(2) has completed 15 years of active duty in the uniformed
services (or has received notification under subsection (e) that
the member is about to complete that duty).
(c) Election Method. - An election under subsection (a)(1) shall
be made in such form and within such period as the Secretary
concerned may prescribe. An election under that subsection is
irrevocable.
(d) Amount of Bonus; Payment. - (1) A bonus under this section
shall be equal to $30,000.
(2) A member electing to receive the bonus under this section
shall elect one of the following payment options:
(A) A single lump sum of $30,000.
(B) Two installments of $15,000 each.
(C) Three installments of $10,000 each.
(D) Four installments of $7,500 each.
(E) Five installments of $6,000 each.
(3) If a member elects installment payments under paragraph (2),
the second installment (and subsequent installments, as applicable)
shall be paid on the earlier of the following dates:
(A) The annual anniversary date of the payment of the first
installment.
(B) January 15 of each succeeding calendar year.
(4) The lump sum payment of the bonus, and the first installment
payment in the case of members who elect to receive the bonus in
installments, shall be paid to an eligible career bonus member not
later than the first month that begins on or after the date that is
60 days after the date on which the Secretary concerned receives
from the member the election required under subsection (a)(1) and
the written agreement required under subsection (a)(2), if
applicable.
(e) Notification of Eligibility. - (1) The Secretary concerned
shall transmit to each member who meets the definition of eligible
career bonus member a written notification of the opportunity of
the member to elect to receive a bonus under this section. The
Secretary shall provide the notification not later than 180 days
before the date on which the member will complete 15 years of
active duty.
(2) The notification shall include the following:
(A) The procedures for electing to receive the bonus.
(B) An explanation of the effects under sections 1401a, 1409,
and 1410 of title 10 that such an election has on the computation
of any retired or retainer pay that the member may become
eligible to receive.
(f) Repayment. - If a person paid a bonus under this section does
not complete a period of active duty beginning on the date on which
the election of the person under paragraph (1) of subsection (a) is
received and ending on the date on which the person completes 20
years of active duty service as described in paragraph (2) of such
subsection, the person shall be subject to the repayment provisions
of section 303a(e) of this title.