To amend titles 10 and 14, United States Code, to provide for an increase in military retired pay for officers by reason of being credited with extraordinary heroism on the same basis as applies to enlisted members.

Requires the retired pay of an officer who has been credited by the Secretary of the military department concerned with extraordinary heroism in the line of duty to be increased by ten percent (but to no more than 75 percent of the retired pay base upon which the retired pay computation is based). Requires such increase with respect to: (1) officer non-regular service; (2) retired pay for officers who first became members of the armed forces after September 7, 1980; (3) voluntary officer retirements; and (4) officer retired pay recomputed due to later active duty.