Sec. 302. Transfer and rights of employees of the FHFA
438 words·~2 min read·
/bill/113/s/1217/rs/section-302A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each employee of the Federal Housing Finance Agency that is employed in connection with functions that are transferred to the Corporation under section 301 shall be transferred to the Corporation for employment, not later than the transfer date, and such transfer shall be deemed a transfer of function for purposes of section 3503 of title 5, United States Code. The transfer of functions under this title, and the abolishment of the Federal Housing Finance Agency under section 303, may not be construed to affect the status of any transferred employee as an employee of an agency of the United States for purposes of any other provision of law. Each employee transferred under subsection
(a)shall be guaranteed a position with the same status, tenure, grade, and pay as that held on the day immediately preceding the transfer. In the case of an employee occupying a position in the excepted service, any appointment authority established under law or by regulations of the Office of Personnel Management for filling such position shall be transferred, subject to paragraph (2). The Corporation may decline a transfer of authority under paragraph (1), to the extent that such authority relates to a position excepted from the competitive service because of its confidential, policymaking, policy-determining, or policy-advocating character. If the Corporation determines, after the end of the 1-year period beginning on the transfer date, that a reorganization of the combined workforce is required, that reorganization shall be deemed a major reorganization for purposes of affording affected employee retirement under section 8336(d)(2) or 8414(b)(1)(B) of title 5, United States Code. Any employee of the Federal Housing Finance Agency accepting employment with the Corporation as a result of a transfer under subsection
(a)may retain, for 12 months after the date on which such transfer occurs, membership in any employee benefit program of the Agency or the Corporation, as applicable, including insurance, to which such employee belongs on the transfer date if— the employee does not elect to give up the benefit or membership in the program; and the benefit or program is continued by the Corporation. The difference in the costs between the benefits which would have been provided by the Federal Housing Finance Agency and those provided by this section shall be paid by the Corporation. If any employee elects to give up membership in a health insurance program or the health insurance program is not continued by the Corporation, the employee shall be permitted to select an alternate Federal health insurance program not later than 30 days after the date of such election or notice, without regard to any other regularly scheduled open season.