The bill, called the "Major Richard Star Act," aims to allow disabled military retirees to receive both disability compensation and retired pay without reduction. It proposes amending Section 1413a(b)(3) and Section 1414(b) of title 10, United States Code, to ensure combat-related disability retirees can concurrently receive both benefits. The bill also includes technical and conforming amendments, such as removing the concurrent receipt phase-in period and changing section headings. If passed, these changes are set to take effect after the enactment of the Act and will apply to payments starting on or after that date.