[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR204.32]

[Page 207-208]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 204--RULES RELATING TO DEBT COLLECTION--Table of Contents
 
                        Subpart B--Salary Offset
 
Sec. 204.32  Definitions.

    The following definitions apply to this regulation:
    Chairman means the Chairman of the Securities and Exchange 
Commission.
    Commission means the Securities and Exchange Commission.
    Creditor agency means the agency to which the debt is owed.
    Debt means an amount owed to the United States from sources which 
include but are not necessarily limited to, erroneous payments made to 
employees such as overpayment of benefits, salary or other allowances; 
loans when insured or guaranteed by the United States; and other amounts 
due the United States from fees, leases, rents, royalties, services, 
sales of real or personal property, overpayment, penalties, damages, 
interest, fines and forfeitures (except those arising under the Uniform 
Code of Military Justice) and all other similar sources.
    Disposable pay means the amount that remains from an employee's 
federal pay after required deductions for federal, state and local 
income taxes; Social Security taxes, including Medicare taxes; federal 
retirement programs; premiums for life and health insurance benefits; 
and such other deductions that are required by law to be withheld. (See 
5 CFR 581.105(b) through

[[Page 208]]

(f) for items required by law to be withheld, and therefore excluded 
from disposable pay for the purposes of this regulation.)
    Employee means a current employee of the Securities and Exchange 
Commission, or other agency, including an active duty member or 
reservist in the U.S. Armed Forces or a former employee (or former 
active duty member or Reservist in the Armed Forces) with a current pay 
account.
    FCCS means the Federal Claims Collection Standards jointly published 
by the Justice Department and the General Accounting Office at 4 CFR 
part 101.
    Hearing official means an individual responsible for conducting any 
hearing with respect to the existence or amount of a debt claimed, and 
who renders a decision on the basis of such hearing. A hearing official 
may not be under the Chairman's supervision or control, except that 
nothing in this regulation shall be construed to prohibit the 
appointment of an administrative law judge.
    Pay means basic pay, special pay, incentive pay, retired pay, 
retainer pay, or in the case of an individual not entitled to basic pay, 
other authorized pay.
    Program official means, for the purpose of implementing this offset 
regulation, the Comptroller or designee.
    Salary offset means an administrative offset to collect a debt under 
5 U.S.C. 5514 by deduction(s), at one or more officially established pay 
intervals, from the current pay account of an employee, without his or 
her consent.
    Waiver means the cancellation, remission, forgiveness, or non-
recovery of a debt allegedly owed by an employee to an agency as 
permitted or required by 5 U.S.C. 5584, 10 U.S.C. 2774, 32 U.S.C. 716, 5 
U.S.C. 8346(b), or any other law.