Hunton Employment & Labor Perspectives

In an era where pay equity and transparency are becoming increasingly important, Massachusetts has taken a significant step with the enactment of House Bill 4890 (HB 4890), the Commonwealth’s new pay transparency law, which expands its previously enacted Massachusetts Equal Pay Act.

As financial institutions consider their ever-growing list of compliance obligations, they would be remiss in not evaluating their employment-related obligations as a federal contractor.

On May 24, 2024, the Federal Acquisition Regulatory Council (FAR Council) issued a notice and request for comments regarding a proposed information collection for federal contractors—FAR 52.204-10(d)(2) for first-tier subcontract information and FAR 52.204-10(d)(3) for executive compensation of first-tier subcontractors. The proposed rule notes this type of collection was previously approved, and there is now a renewed focus.

The start of spring has brought with it important deadlines and announcements from the EEOC, OFCCP, and the OMB regarding the reporting of employee demographic data to the federal government.

As announced by the Equal Employment Opportunity Commission (EEOC) earlier this year, the 2023 EEO-1 data collection process will open on April 30, 2024 with a deadline to file by Tuesday, June 4, 2024. Private employers with at least 100 employees and federal contractors with at least 50 employees can begin to report their data as of April 30, 2024 in order to meet the deadline.