41 USC 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.)
Repeal of Section
Pub. L. 113–67, div. A, title VII, §702(b)(1), (c), Dec. 26, 2013, 127 Stat. 1189, provided that, applicable only with respect to costs of compensation incurred under contracts entered into on or after the date that is 180 days after Dec. 26, 2013, this section is repealed.
Pub. L. 113–66, div. A, title VIII, §811(c)(1), (d), Dec. 26, 2013, 127 Stat. 806, provided that, applicable with respect to costs of compensation incurred under contracts entered into on or after the date that is 180 days after Dec. 26, 2013, this section is repealed.
Historical and Revision Notes
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|
| 1127(a)(1) |
41:435(b). |
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. |
| 1127(a)(2) |
41:435(c)(3). |
|
| 1127(a)(3) |
41:435(c)(1). |
|
| 1127(a)(4) |
41:435(c)(5). |
|
| 1127(a)(5) |
41:435(c)(4). |
|
| 1127(a)(6) |
41:435(c)(2). |
|
| 1127(b) |
41:435(a). |
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Sections: 1102 1121 1122 1123 1124 1125 1126 1127 1128 1129 1130 1131 1201 1301 1302
Last modified: October 26, 2015