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World War Adjusted Compensation Act
The World War Adjusted Compensation Act, or Bonus Act,〔Red Cross, 363〕 was a United States federal law passed on May 19, 1924, that granted a benefit to veterans of American military service in World War I.
==Provisions==
The act awarded veterans additional pay in various forms, with only limited payments available in the short term. The value of each veteran's "credit" was based on each recipient's service in the United States Armed Forces between April 5, 1917, and July 1, 1919, with $1.00 awarded for each day served in the United States and $1.25 for each day served abroad. It set maximum payments at $500 for a veteran who served stateside and $625 for a veteran who served overseas,〔 senior officers and anyone whose service began after November 11, 1918.〔Red Cross, 364〕
It authorized immediate payments to anyone due less than $50.〔Red Cross, 363, 365〕 The estate of a deceased veteran could be paid his award immediately if the amount was less than $500.〔Red Cross, 367〕 All others were awarded an "adjusted service certificate," which functioned like an insurance policy. Based on standard actuarial calculations, the value of a veteran's certificate was set as the value of a 20-year insurance policy equal to 125% of the value of his service credit. Certificates were to be awarded on the veteran's birthday no earlier than January 1, 1925, and redeemable in full on his birthday in 1945, with payments to his estate if he died before then.〔Red Cross, 363, 367b〕 Certificate holders were allowed to use them as collateral for loans under certain restrictions.〔Red Cross, 368-72〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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