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Jack Walters was enlisted in the U.S. Army Reserve in February 1961, serving on active duty from March to September 1961, and received an honorable discharge in July 1962. Walters entered the Navy School of Pre-flight on August 15, 1962, and then completed Basic Naval Aviation Observer School, Air Navigation School, Reconnaissance Attack Navigation School, and A-3 Skywarrier and RA-5C Vigilante transition training before joining RVAH-13 at NAS Sanford, Florida, in September 1964. Lieutenant Walters deployed on two cruises with RVAH-13 to Southeast Asia between 1965 and 1967, the second cruise aboard the aircraft carrier USS Kitty Hawk (CVA-63) from March 1967 until he was forced to eject over North Vietnam and was taken as a Prisoner of War on May 19, 1967.

Jack Walters died from his injuries the day after his capture, on May 20, but his remains were not returned to the United States until March 13, 1974. Lieutenant Commander Walters is buried at Arlington National Cemetery.
- Distinguished Flying Cross (2)
- Prisoner of War Medal