MEDIA CENTER

Higher education retirement plan settlements highlight need for regular compliance reviews

On May 21, 2021, the U.S. District Court for the Southern District of New York granted preliminary approval of a $13 million class-action settlement agreement (the Settlement) between the Trustees of Columbia University’s Voluntary Retirement Savings Program (Columbia Plan or Plan) and affected plan participants. The Columbia Plan is a 403(b) plan, a type of qualified retirement plan similar to a 401(k) but sponsored by tax-exempt and government entities.
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Two key labor regulators clarify rules for employer COVID-19 vaccine mandates and incident reporting

In recent weeks, both the Equal Employment Opportunity Commission (EEOC) and Occupational Safety and Health Administration (OSHA) revised or issued new guidance related to COVID-19. The revisions are intended to encourage vaccination by removing potential liability for adverse outcomes from vaccination from businesses while retaining reporting requirements for work-related COVID-19 infections.
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