Page:United States Statutes at Large Volume 88 Part 1.djvu/1044

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PUBLIC LAW 93-406-SEPT. 2, 1974

[88 STAT.

the United States, by any State (including the District of Columbia) or political subdivision thereof, or by any agency or instrumentality of any of the foregoing. Such study shall include an analysis of;— (1) the adequacy of existing levels of participation, vesting, and financing ari-angements, (2) existing fiduciary standards, and (3) the necessity for Federal legislation and standards with respect to such plans. I n determining whether any such plan is adequately financed, each committee shall consider the necessity for minimum funding standards, as well as the taxing power of the government maintaining the plan. House°and°senate. 0^) ^ ^ t later thau December 31, 1976, the Committee on Education and Labor and the Committee on Ways and Means shall each submit to the House of Representatives the results of the studies conducted under this section, together with such recommendations as they deem appropriate. The Committee on Finance and the Committee on Labor and Public Welfare shall each submit to the Senate the results of the studies conducted under this section together with such recommendations as they deem appropriate not later than such date. PROTECTION FOR E M P L O Y E E S TJNDER FEDERAL P R O C U R E M E N T, CONSTRUCTION, AND RESEARCH CONTRACTS A N D GRANTS 29 USC 1232.

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Regulations.

SEC. 3032. (a) The Secretary of Labor shall, during the 2-year period beginning on the date of the enactment of this Act, conduct a full and complete study and investigation of the steps necessary to be taken to insure that professional, scientific, and technical personnel and others working in associated occupations employed under Federal procurement, construction, or research contracts or grants will, to the extent feasible, be protected against forfeitures of pension or retirement rights or benefits, otherwise provided, as a consequence of job transfers or loss of employment resulting from terminations or modifications of Federal contracts, grants, or procurement policies. "^^^ Secretary of Labor shall report the results of his study and investigation to the Congress within 2 years after the date of the enactment of this Act. The Secretary of Labor is authorized, to the extent provided by law, to obtain the services of private research institutions and such other persons by contract or other arrangement as he determines necessary in carrying out the provisions of this section. (b) In the course of conducting the study and investigation described in subsection (a), and in developing the regulations referred to in subsection (c), the Secretary of Labor shall consult— (1) with appropriate professional societies, business organizations, and labor organizations, and (2) with the heads of interested Federal departments and agencies. ^^^ Wlthiu 1 year after the date on which he submits his report to the Congress under subsection (a), the Secretary of Labor shall, if he determines it to be feasible, develop regulations which will provide the protection of pension and retirement rights and benefits referred to in subsection (a). (d)(1) Any regulations developed pursuant to subsection (c) shall take effect if, and only if— (A) the Secretary of Labor, not later than the day which is 3 years after the date of the enactment of this Act, delivers a copy of such regulations to the House of Representatives and a copy to the Senate, and

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