United States Code, 2011 Edition
Title 41 - PUBLIC CONTRACTS
Subtitle I - Federal Procurement Policy
Division B - Office of Federal Procurement Policy
CHAPTER 11 - ESTABLISHMENT OF OFFICE AND AUTHORITY AND FUNCTIONS OF ADMINISTRATOR
SUBCHAPTER II - AUTHORITY AND FUNCTIONS OF THE ADMINISTRATOR
Sec. 1127 - Determining benchmark compensation amount
From the U.S. Government Publishing Office, www.gpo.gov
§1127. Determining benchmark compensation amount
(a) Definitions.—In this section:
(1) Benchmark compensation amount.—The term “benchmark compensation amount”, for a fiscal year, is the median amount of the compensation provided for all senior executives of all benchmark corporations for the most recent year for which data is available at the time the determination under subsection (b) is made.
(2) Benchmark corporation.—The term “benchmark corporation”, with respect to a fiscal year, means a publicly-owned United States corporation that has annual sales in excess of $50,000,000 for the fiscal year.
(3) Compensation.—The term “compensation”, for a fiscal year, means the total amount of wages, salary, bonuses, and deferred compensation for the fiscal year, whether paid, earned, or otherwise accruing, as recorded in an employer's cost accounting records for the fiscal year.
(4) Fiscal year.—The term “fiscal year” means a fiscal year a contractor establishes for accounting purposes.
(5) Publicly-owned united states corporation.—The term “publicly-owned United States corporation” means a corporation—
(A) organized under the laws of a State of the United States, the District of Columbia, Puerto Rico, or a possession of the United States; and
(B) whose voting stock is publicly traded.
(6) Senior executives.—The term “senior executives”, with respect to a contractor, means the 5 most highly compensated employees in management positions at each home office and each segment of the contractor.
(b) Determining Benchmark Compensation Amount.—For purposes of section 4304(a)(16) of this title and section 2324(e)(1)(P) of title 10, the Administrator shall review commercially available surveys of executive compensation and, on the basis of the results of the review, determine a benchmark compensation amount to apply for each fiscal year. In making determinations under this subsection, the Administrator shall consult with the Director of the Defense Contract Audit Agency and other officials of executive agencies as the Administrator considers appropriate.
(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3689.)
Historical and Revision Notes
|Source (U.S. Code)||Source (Statutes at Large)|
||Pub. L. 93–400, §39, as added Pub. L. 105–85, title VIII, §808(c)(1), Nov. 18, 1997, 111 Stat. 1837; Pub. L. 105–261, title VIII, §804(c)(1), Oct. 17, 1998, 112 Stat. 2083.
Exclusive Applicability of Provisions Limiting Allowability of Compensation for Certain Contractor Personnel
Pub. L. 105–85, div. A, title VIII, §808(f), Nov. 18, 1997, 111 Stat. 1838, provided that: “Notwithstanding any other provision of law, no other limitation in law on the allowability of costs of compensation of senior executives under covered contracts shall apply to such costs of compensation incurred after January 1, 1998.”
Definitions for Purposes of Section 808 of Pub. L. 105–85
Pub. L. 105–85, div. A, title VIII, §808(g), Nov. 18, 1997, 111 Stat. 1838, as amended by Pub. L. 105–261, div. A, title VIII, §804(c)(2), Oct. 17, 1998, 112 Stat. 2083, provided that: “In this section [see Tables for classification]:
“(1) The term ‘covered contract’ has the meaning given such term in section 2324(l) of title 10, United States Code, and section 306(l) of the Federal Property and Administrative Services Act of 1949 ([former] 41 U.S.C. 256(l)) [see 41 U.S.C. 4301].
“(2) The terms ‘compensation’ and ‘senior executives’ have the meanings given such terms in section 2324(l) of title 10, United States Code, and section 306(m) of the Federal Property and Administrative Services Act of 1949 [see 41 U.S.C. 4301].”