Congress Holds Hearing on Pay Equity, Proposed Laws

Pay equity

Last month, in the U.S. House of Representatives, the Subcommittee on Diversity and Inclusion held a virtual hearing entitled, “Closing the Racial and Gender Wealth Gap Through Compensation Equity.” Among the matters discussed were two pieces of legislation aimed at closing gender and racial pay gaps. According to the House Committee on Financial Services, the…

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New EEOC Chair Proclaims Pay Equity ‘Front and Center’

EEOC

Everywhere you turn, organizations, individual states, countries all over the world, and federal governments are proclaiming focus to achieve pay equity, diversity, and inclusion in the workplace. The latest to voice the sentiment is the Equal Employment Opportunity Commission’s (EEOC) Charlotte A. Burrows. Burrows was appointed by Biden in January 2021 and is the EEOC’s…

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ESG a Top Priority for Mutual Fund Managers, Investors

ESG

Environmental, social, and governance (ESG) issues are becoming a top priority for mutual fund managers and investors alike. More specifically, the focal point is how employers are addressing them.  Companies (including special purpose acquisition companies, or SPACs) that want to be included in mutual funds need to know that they’ll be under greater pressure to…

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The Final ERISA ESG Investment Rule is Not So Final

ESG Investment Rule

2 minute read What appeared to be the final ESG investing rule issued by the U.S. Department of Labor (DOL) on October 30, 2020, is now in flux. The final ESG investing rule, which applies to a 401(k) or 401(b) type plan, had required ERISA plan fiduciaries to base investment decisions on financial factors alone,…

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Governments, Investors, & Litigators Are Focusing More on ESG

Focusing More on ESG

3 minute read Companies need to know that governments, investors, and litigators are making environmental, social, and governance (ESG) criteria a priority. As a result, it won’t be enough for companies to simply claim they’re ESG-friendly; they’ll have to have mechanisms in place to prove it, or potentially face serious consequences. Governments First, let’s look…

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DFEH Adds New Guidance for SB 973 Reporting Due on March 31

CA SB 973 Reporting.

3 minute read California’s Department of Fair Employment and Housing (DFEH) recently released additional FAQs to assist employers in submitting pay data reporting under SB 973 to the DFEH. Under SB 973, beginning this year, private employers with at least 100 employees and required to file an annual Employer Information Report (EEO-1) are required to…

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OFCCP Reinforces Commitment to Transparency

The Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) has released revisions to its Federal Contract Compliance Manual. The manual provides guidance for OFCCP’s compliance officers in conducting compliance evaluations, complaint investigations and providing federal contractors with compliance assistance, according to the update alert. The updates made to the manual include: ● Revisions…

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