Sec. 301. Personnel provisions

591 words·~3 min read·/bill/113/hr/3012/ih/section-301

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The Commission may appoint and fix the compensation of such officers and employees as may be necessary to carry out the functions of the Commission. Except as otherwise provided by law, such officers and employees shall be appointed in accordance with the civil service laws and the compensation of such employees shall be fixed in accordance with section 4802 of title 5, United States Code. The Commission shall, in accordance with such section, adjust the compensation of employees so that the compensation of employees transferred from the Commodity Futures Trading Commission pursuant to subsection

(b)and the compensation of employees transferred from the Securities and Exchange Commission under such subsection are aligned. In making such an adjustment, the Commission shall not reduce the compensation of any employee. All employees of the Commodity Futures Trading Commission and the Securities and Exchange Commission shall be transferred to the Commission. Each employee to be transferred under this subsection shall be transferred not later than 90 days after the effective date set forth in section 601. The transfer of employees under this section shall not affect the status of the transferred employees as employees of an agency of the United States under any provision of law. Each transferred employee shall be placed in a position at the Commission with the same status and tenure as the transferred employee held on the day before the date on which the employee was transferred. To the extent practicable, each transferred employee shall be placed in a position at the Commission responsible for the same functions and duties as the transferred employee had on the day before the date on which the employee was transferred, in accordance with the expertise and preferences of the transferred employee. Except as provided in subparagraph (B), each transferred employee shall not, during the 3-year period beginning on the transfer date, be involuntarily separated, or involuntarily reassigned outside his or her locality pay area. Subparagraph

(A)does not limit the right of the Commission to— separate an employee for cause or for unacceptable performance; terminate an appointment to a position excepted from the competitive service because of its confidential policy-making, policy-determining, or policy-advocating character; or reassign an employee outside such employee’s locality pay area when the Commission determines that the reassignment is necessary for the efficient operation of the Commission. Except as provided in clause (ii), each transferred employee shall, during the 3-year period beginning on the designated transfer date, receive pay at a rate equal to not less than the basic rate of pay (including any geographic differential) that the employee received during the pay period immediately preceding the date of transfer. Notwithstanding clause (i), if the employee was receiving a higher rate of basic pay on a temporary basis (because of a temporary assignment, temporary promotion, or other temporary action) immediately before the date of transfer, the Commission may reduce the rate of basic pay on the date on which the rate would have been reduced but for the transfer, and the protected rate for the remainder of the 3-year period shall be the reduced rate that would have applied, but for the transfer. Subparagraph

(A)does not limit the right of the Commission to reduce the rate of basic pay of a transferred employee— for cause or for unacceptable performance; or with the consent of the employee. Subparagraph

(A)applies to a transferred employee only while that employee remains employed by the Commission. Subparagraph

(A)does not limit the authority of the Commission to increase the pay of a transferred employee.