(Pub. L. 89–554, Sept. 6, 1966, 80 Stat. 442; Pub. L. 95–454, title V, § 503(a),Oct. 13, 1978, 92 Stat. 1183; Pub. L. 97–35, title XVII, § 1703(b)(2),Aug. 13, 1981, 95 Stat. 756; Pub. L. 98–615, title II, § 204(a)(1),Nov. 8, 1984, 98 Stat. 3216; Pub. L. 100–690, title VII, § 7106(a),Nov. 18, 1988, 102 Stat. 4418; Pub. L. 101–474, § 5(f),Oct. 30, 1990, 104 Stat. 1100; Pub. L. 103–89, § 3(b)(1)(C),Sept. 30, 1993, 107 Stat. 981.)
Historical and Revision Notes
|| U.S. Code
|| Revised Statutes and Statutes at Large
||5 U.S.C. 2122.
||Sept. 1, 1954, ch. 1208, § 303, 68 Stat. 1113.
|Aug. 18, 1959, Pub. L. 86–168, § 202(d), 73 Stat. 389.
In paragraph (1), the term “Executive agency” is coextensive with and substituted for “executive department or independent agency in the executive branch of the Government including a Government-owned or controlled corporation” in view of the definition of “Executive agency” in section
. Application to the General Accounting Office (included in the term “Executive agency”) is based on former section
Paragraph (2) is supplied because the definition of “employee” in section
does not encompass individuals employed by the government of the District of Columbia.
Paragraph (3) is supplied for clarity and convenience.
Standard changes are made to conform with the definitions applicable and the style of this title as outlined in the preface to the report.
1993—Par. (2)(A). Pub. L. 103–89
amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “an employee as defined by section
of this title, but does not include an employee covered by the performance management and recognition system established under chapter
of this title; and”.
1990—Par. (1). Pub. L. 101–474
redesignated subpars. (C) to (H) as (B) to (G), respectively, and struck out former subpar. (B) which included Administrative Office of United States Courts within definition of “agency”.
1988—Par. (1)(H). Pub. L. 100–690
added subpar. (H).
1984—Par. (2)(A). Pub. L. 98–615
substituted “the performance management and recognition system established under chapter 54” for “the merit pay system established under section
1981—Pub. L. 97–35
substituted “subchapter” for “chapter” in provision preceding par. (1).
1978—Par. (2)(A). Pub. L. 95–454
inserted reference to an employee covered by merit pay system established under section
of this title.
Effective Date of 1993 Amendment
Amendment by Pub. L. 103–89
effective Nov. 1, 1993, see section 3(c) ofPub. L. 103–89
, set out as a note under section
of this title.
Effective Date of 1984 Amendment
Section 205 ofPub. L. 98–615
provided that amendment by Pub. L. 98–615
was effective Oct. 1, 1984, and applicable with respect to pay periods commencing on or after that date, with certain exceptions and qualifications.
Effective Date of 1981 Amendment
Section 1703(c) ofPub. L. 97–35
provided that: “The amendments made by this section [enacting subchapter II of this chapter, designating this section and sections
of this title as subchapter I, and amending this section and sections
of this title] shall take effect on October 1, 1981.”
Effective Date of 1978 Amendment
Section 504(a) ofPub. L. 95–454
provided that amendment by Pub. L. 95–454
was effective on first day of first applicable pay period which began on or after Oct. 1, 1981, except it could take effect with respect to any category or categories of positions before such day to extent prescribed by Director of Office of Personnel Management.
Ex. Ord. No. 12976. Compensation Practices of Government Corporations
Ex. Ord. No. 12976, Oct. 5, 1995, 60
By the authority vested in me as President by the Constitution and the laws of the United States of America, including section
, United States Code, and sections
, United States Code, it is hereby ordered as follows:
Section 1. Statement of Presidential Principles.
Government corporations subject to this order should not pay bonuses in excess of those authorized by sections
, United States Code, except as otherwise specifically provided by law.
Sec. 2. Administration Review. (a) Before taking action to approve any bonus in excess of those authorized in section
, United States Code, each corporation subject to this section (as provided in section 6 of this order) shall submit information to the Director of the Office of Management and Budget (OMB) relating to such bonuses as provided in subsection (b). Such corporation shall refrain from approving any such bonus until the Director of OMB has had an opportunity to review the information provided by the corporation.
(b) The Director of OMB shall issue instructions to the corporations subject to this section specifying when information is to be submitted, and the content and form of such information.
Sec. 3. Information Reporting Requirements. (a) Government corporations subject to this order will provide information to the Director of OMB relating to the compensation practices for senior executives of such corporations as provided in subsection (c).
(b) Information submitted shall include the following with respect to senior executives of each corporation subject to this section:
(1) the compensation plan, procedures, and structure of such corporation;
(2) base salary levels, annual bonuses, and other compensation; and
(3) information supporting the senior executive compensation plan and levels.
(c) The Director of OMB shall issue instructions to the corporations subject to this section specifying when information is to be submitted, and the content and form of such information.
Sec. 4. Review. (a) OMB, in consultation with the Department of Labor, will review the information submitted pursuant to section
3, taking into consideration:
(1) consistency with statutory requirements;
(2) consistency with corporate mission;
(3) standards of Federal management and efficiency; and
(4) equivalent private sector compensation practices.
Sec. 5. Public Dissemination Requirement. Government corporations subject to this order shall make available through public dissemination the information submitted pursuant to section 3 of this order.
Sec. 6. Coverage. This order will apply to all mixed-ownership and wholly owned corporations listed in section
and (3) of title
, United States Code. Section
2 shall apply only to wholly owned corporations except such corporations that have specific authority to approve bonuses in excess of those authorized under sections
, United States Code.
Sec. 7. Administration. All corporations subject to this order shall provide any information in the manner and form, and at the time, requested pursuant to this order by the Director of OMB.
Sec. 8. This order is intended only to improve the internal management of the executive branch and is not intended to create any right or benefit, substantive or procedural, enforceable at law by a party against the United States, its agencies, its officers, or any other person.
William J. Clinton.