((a)) Notwithstanding any other provision of this chapter, during the period beginning , and ending (hereinafter in this section referred to as the “open period”), an individual who—
((1)) first became a member of the Armed Forces or first entered on active duty as a member of the Armed Forces during the period beginning , and ending ;
((2)) has continuously served on active duty without a break in service since the date the individual first became such a member or first entered on active duty as such a member; and
((3)) is serving on active duty during the open period,
((b)) An individual described in clauses (1) through (3) of subsection (a) of this section who made an election under section 3011(c)(1) or 3012(d)(1) of this title and who—
((1)) while serving on active duty during the open period, makes a withdrawal of such an election;
((2)) continues to serve the period of service which, at the beginning of the open period, such individual was obligated to serve;
((3))
((A)) serves the obligated period of service described in clause (2) of this subsection;
((B)) before completing such obligated period of service, is discharged or released from active duty for (i) a service-connected disability, (ii) a medical condition which preexisted such service and which the Secretary determines is not service connected, (iii) hardship, or (iv) a physical or mental condition that was not characterized as a disability and did not result from the individual’s own willful misconduct but did interfere with the individual’s performance of duty, as determined by the Secretary of each military department in accordance with regulations prescribed by the Secretary of Defense (or by the Secretary of Homeland Security with respect to the Coast Guard when it is not operating as a service of the Navy); or
((C)) before completing such obligated period of service, is (i) discharged or released from active duty for the convenience of the Government after completing not less than 20 months of such period of service, if such period was less than three years, or 30 months, if such period was at least three years, or (ii) involuntarily discharged or released from active duty for the convenience of the Government as a result of a reduction in force, as determined by the Secretary concerned in accordance with regulations prescribed by the Secretary of Defense;
((4)) before applying for benefits under this section—
((A)) completes the requirements of a secondary school diploma (or equivalency certificate); or
((B)) successfully completes (or otherwise receives academic credit for) the equivalent of 12 semester hours in a program of education leading to a standard college degree; and
((5)) upon completion of such obligated period of service—
((A)) is discharged from service with an honorable discharge, is placed on the retired list, is transferred to the Fleet Reserve or Fleet Marine Corps Reserve, or is placed on the temporary disability retired list;
((B)) continues on active duty; or
((C)) is released from active duty for further service in a reserve component of the Armed Forces after service on active duty characterized by the Secretary concerned as honorable service,
((c)) The basic pay of an individual withdrawing, under subsection (b)(1) of this section, an election under section 3011(c)(1) or 3012(d)(1) of this title shall be reduced by—
((1)) $1,200; or
((2)) in the case of an individual described in clause (B) or (C) of subsection (b)(3) of this section whose discharge or release from active duty prevents the reduction of the basic pay of such individual by $1,200, an amount less than $1,200.
((d)) A withdrawal under subsection (b)(1) of this section is irrevocable.