Pilot program on improving retention of members with degrees in their fields of specialty

(a) In general The Secretary of Defense shall establish a pilot program to assess the feasibility and advisability of paying incentive pay to certain enlisted members of the Armed Forces with degrees in their fields of specialty to improve the retention of such members. (b) Payment of incentive pay Under the pilot program required by subsection (a), the Secretary concerned may pay monthly incentive pay to a member of the Armed Forces who— (1) is an enlisted member; (2) has less than 4 years of service in the Armed Forces; (3) has a degree in the member's field of specialty, as determined by the Secretary concerned; and (4) commits to reenlisting. (c) Termination The pilot program required by subsection (a) shall terminate on the date that is 5 years after the date of the enactment of this Act. (d) Report required After the termination under subsection (c) of the pilot program required by subsection (a), the Secretary shall submit to the congressional defense committees a report on the effectiveness of the pilot program in retaining highly qualified members that includes an assessment of— (1) the effect of the pilot program on retention rates; (2) satisfaction of members with the pilot program; and (3) the overall cost-effectiveness of the pilot program. (e) Secretary concerned defined In this section, the term Secretary concerned has the meaning given that term in section 101 of title 10, United States Code.