Page:United States Statutes at Large Volume 103 Part 1.djvu/455

 PUBLIC LAW 101-73-AUG. 9, 1989 103 STAT. 427 (c) GUARANTEED POSITION.— Each transferred employee shall be guaranteed a position with the same status and tenure as that held by such employee on the day immediately preceding the transfer. Each such employee holding a permanent position shall not be involuntarily separated for one year after the date of transfer, except for cause. (d) PAY AND BENEFITS.— Each employee transferred under this section shall be entitled to receive, during the one-year period immediately following the transfer, pay and benefits comparable to those received by such employee immediately preceding the trans- fer. Where necessary or appropriate to further the safety and soundness of the thrift industry, the employing agency may con- tinue the pre-transfer compensation of any transferring employee for up to 2 years beyond the expiration of the period provided for ^ under the preceding sentence. Such pay and benefits shall be subject to the comparability provisions of this Act. Any transferred em- ployee who suffers a reduction of pay or benefits as a result of such comparability provisions shall be compensated for such reduction during the 1 year period following the transfer by assessments from the Federal Home Loan Bank or joint office of such Banks, from which the employee transferred. In any event, this subsection shall only apply to a transferred employee while such employee remains with the agency to which the employee is transferred. (e) HEALTH INSURANCE. — I f the health insurance program of a transferred employee is not continued by the agency to which the employee is transferred, such employee may elect to participate in the agency's health insurance program notwithstanding health conditions pre-existing at the time of election or enrollment into an alternate health insurance program of the agency to which he or she is transferred and without regard to any other regularly scheduled open season. Such election shall be made within 30 days of the transfer. (f) EQUITABLE TREATMENT.—The Director of the Office of Thrift Supervision or the Chairperson of the Federal Housing Finance Board shall take such action as is necessary on a case-by-case basis so that employees transferring under this section receive equitable treatment regarding credit for prior service with a Federal entity or instrumentality, or with a Federal Home Loan Bank or joint office of such Banks, with respect to the transferring employees' retire- ment accounts and the transferring employees' accrued leave or vacation time, in recognition of the transferring employees' super- visory service. (g) SPECIAL RULE FOR CERTAIN ANNUITANTS.—An individual who was a reemployed annuitant on July 26, 1989, and who is trans- ferred under this section, shall not be subject to the deduction from pay required by section 8344 or 8468 of title 5, United States Code, during the 1-year period beginning on the date of enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. SEC. 723. TRANSITIONAL PROVISIONS. 12 USC 1437 (a) FEDERAL HOME LOAN BANKS' SHARE OF ADMINISTRATIVE EX- PENSES.— The Federal Home Loan Banks shall pay to the Director of the Office of Thrift Supervision the amount obtained by multiplying the administrative expenses of the Office of Thrift Supervision incurred in connection with functions of the Banks that are trans-

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