-CITE-
    5 USC CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT    01/03/2007 

-EXPCITE-
    TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
    PART III - EMPLOYEES
    Subpart C - Employee Performance
    CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT

-HEAD-
            CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT        

-MISC1-
    Sec.                                                     
    4801.       Nonapplicability of chapter 47.                       
    4802.       Securities and Exchange Commission.                   

-End-



-CITE-
    5 USC Sec. 4801                                             01/03/2007

-EXPCITE-
    TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
    PART III - EMPLOYEES
    Subpart C - Employee Performance
    CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT

-HEAD-
    Sec. 4801. Nonapplicability of chapter 47

-STATUTE-
      Chapter 47 shall not apply to this chapter.

-SOURCE-
    (Added Pub. L. 107-123, Sec. 8(a), Jan. 16, 2002, 115 Stat. 2398.)


-MISC1-
                              EFFECTIVE DATE                          
      Chapter effective Oct. 1, 2001, see section 11 of Pub. L. 107-
    123, set out as an Effective Date of 2002 Amendment note under
    section 78ee of Title 15, Commerce and Trade.

-End-



-CITE-
    5 USC Sec. 4802                                             01/03/2007

-EXPCITE-
    TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
    PART III - EMPLOYEES
    Subpart C - Employee Performance
    CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT

-HEAD-
    Sec. 4802. Securities and Exchange Commission

-STATUTE-
      (a) In this section, the term "Commission" means the Securities
    and Exchange Commission.
      (b) The Commission may appoint and fix the compensation of such
    officers, attorneys, economists, examiners, and other employees as
    may be necessary for carrying out its functions under the
    securities laws as defined under section 3 of the Securities
    Exchange Act of 1934 (15 U.S.C. 78c).
      (c) Rates of basic pay for all employees of the Commission may be
    set and adjusted by the Commission without regard to the provisions
    of chapter 51 or subchapter III of chapter 53.
      (d) The Commission may provide additional compensation and
    benefits to employees of the Commission if the same type of
    compensation or benefits are then being provided by any agency
    referred to under section 1206 of the Financial Institutions
    Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1833b) or,
    if not then being provided, could be provided by such an agency
    under applicable provisions of law, rule, or regulation. In setting
    and adjusting the total amount of compensation and benefits for
    employees, the Commission shall consult with, and seek to maintain
    comparability with, the agencies referred to under section 1206 of
    the Financial Institutions Reform, Recovery, and Enforcement Act of
    1989 (12 U.S.C. 1833b).
      (e) The Commission shall consult with the Office of Personnel
    Management in the implementation of this section.
      (f) This section shall be administered consistent with merit
    system principles.

-SOURCE-
    (Added Pub. L. 107-123, Sec. 8(a), Jan. 16, 2002, 115 Stat. 2398.)


-MISC1-
               EMPLOYEES REPRESENTED BY LABOR ORGANIZATIONS           
      Pub. L. 107-123, Sec. 8(b), Jan. 16, 2002, 115 Stat. 2398,
    provided that: "To the extent that any employee of the Securities
    and Exchange Commission is represented by a labor organization with
    exclusive recognition in accordance with chapter 71 of title 5,
    United States Code, no reduction in base pay of such employee shall
    be made by reason of enactment of this section [enacting this
    chapter, amending sections 3132 and 5373 of this title, section
    1833b of Title 12, Banks and Banking, and section 78d of Title 15,
    Commerce and Trade, and enacting provisions set out as a note under
    this section] (including the amendments made by this section)."

                      IMPLEMENTATION PLAN AND REPORT                  
      Pub. L. 107-123, Sec. 8(c), Jan. 16, 2002, 115 Stat. 2398,
    provided that:
      "(1) Implementation plan. - 
        "(A) In general. - The Securities and Exchange Commission shall
      develop a plan to implement section 4802 of title 5, United
      States Code, as added by this section.
        "(B) Inclusion in annual performance plan and report. - The
      Securities and Exchange Commission shall include - 
          "(i) the plan developed under this paragraph in the annual
        program performance plan submitted under section 1115 of title
        31, United States Code; and
          "(ii) the effects of implementing the plan developed under
        this paragraph in the annual program performance report
        submitted under section 1116 of title 31, United States Code.
      "(2) Implementation report. - 
        "(A) In general. - Before implementing the plan developed under
      paragraph (1), the Securities and Exchange Commission shall
      submit a report to the Committee on Governmental Affairs [now
      Committee on Homeland Security and Governmental Affairs] and the
      Committee on Banking, Housing, and Urban Affairs of the Senate,
      the Committee on Government Reform and the Committee on Financial
      Services of the House of Representatives, and the Office of
      Personnel Management on the details of the plan.
        "(B) Content. - The report under this paragraph shall include -
      
          "(i) evidence and supporting documentation justifying the
        plan; and
          "(ii) budgeting projections on costs and benefits resulting
        from the plan."

-End-


-CITE-
    5 USC Subpart D - Pay and Allowances                        01/03/2007

-EXPCITE-
    TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
    PART III - EMPLOYEES
    Subpart D - Pay and Allowances

-HEAD-
    Subpart D - Pay and Allowances

-End-