12 2 STA T . 2 796PUBLIC LA W 11 0– 2 8 9 —J UL Y3 0 , 2008 SEC.130 3. TRAN S F ER AN D R IGH TS O FE MPL O Y EES OF OFHEO. (a)TRANSFE R .—E a chemploy eeo ft he O ff i ce of F e d e r al H o us i ng Enterprise O v ersight shall b e transferred to the A gency for employ - ment , not later than the effective date of the abolishment under section 130 1(a), and such transfer shall be deemed a transfer of function for purposes of section 3 5 03 of title 5, U nited S tates C ode. (b) GU ARAN T EE DPO S I TIONS.— (1) I N G ENERA L .—Each employee transferred under sub- section (a) shall be guaranteed a position w ith the same status, tenure, grade, and pay as that held on the day immediately preceding the transfer. ( 2 ) N OIN V OLUNTAR Y SE P ARATION OR REDU C TION.—An employee transferred under subsection (a) holding a permanent position on the day immediately preceding the transfer may not be involuntarily separated or reduced in grade or compensa- tion during the 12-month period beginning on the date of transfer, e x cept for cause, or, in the case of a temporary employee, separated in accordance with the terms of the appointment of the employee. (c) APPOINT M ENT AUT H ORITY FOR E X CEPTED AND SENIOR EXECU- TIVE SERVICE EMPLOYEES.— (1) IN GENERAL.—In the case of an employee occupying a position in the excepted service or the Senior Executive Service, any appointment authority established under law or by regulations of the Office of Personnel M anagement for filling such position shall be transferred, sub j ect to paragraph (2). (2) D ECLINE OF TRANSFER.—The Director may decline a transfer of authority under paragraph (1) to the extent that such authority relates to— (A) a position excepted from the competitive service because of its confidential, policyma k ing, policy-deter- mining, or policy-advocating character
or ( B ) a noncareer position in the Senior Executive Service (within the meaning of section 3132(a)( 7 ) of title 5, United States Code). (d) R EORGANI Z ATION.—If the Director determines, after the end of the 1-year period beginning on the effective date of the abolish- ment under section 1301(a), that a reorgani z ation of the combined workforce is re q uired, that reorganization shall be deemed a major reorganization for purposes of affording affected employee retire- ment under section 8 33 6 (d)(2) or 8 4 14(b)(1)(B) of title 5, United States Code. (e) EMPLOYEE BENEFIT PROGRAMS.— (1) IN GENERAL.—Any employee of the Office of Federal Housing Enterprise Oversight accepting employment with the Agency 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 Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development, as applicable, including insurance, to which such employee belongs on the date of the abolishment under section 1301(a), if— (A) the employee does not elect to give up the benefit or membership in the program; and (B) the benefit or program is continued by the Director of the Federal Housing Finance Agency. Ef f ectiv e da te . Effective date. D ead l i n e. 12USC45 11 n o te.
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