Know Your Affirmative Action Obligations Under Executive Order 11246 This one is for the sake of all of our credit union readers out there, and of course anyone wishing to further their knowledge of the subject of federal compliance. Read this one thoroughly. It could mean avoiding heavy fines and penalties. Affirmative Action Compliance Many organizations are required to comply with preparing an Affirmative Action plan as a result of being a federal contractor. What is less commonly known is that Credit Unions can also be considered "federal contractors" as defined by the Office of Federal Compliance and Contracting Programs (OFCCP). What does this mean for your Credit Union? That's what this article aims to explain. Background Executive Order 11246, signed by President Lyndon Baines Johnson (LBJ) in 1965, is a series of regulations that prohibit federal contractors from … [Read more...]
From VETS to Verify: New Rules for Federal Contractors
VETS-100 and VETS-100A If you are a government contractor or subcontractor and have contracts entered into or modified after December 1, 2003 of $100,000 or more, you will be required to file the new VETS-100A report form by September 30, 2009. In addition, if you have contracts entered into prior to December 1, 2003 of $25,000 or more, you must continue to file the VETS-100. Both forms must be filed by September 30, 2009. Prior to 2002, the Vietnam Era Veterans' Readjustment Act (VEVRAA) required federal contractors and subcontractors with contracts worth $25,000 or more to collect data on certain categories of veterans in their workforce annually and report them on the Federal Contractor Veterans' Employment Report, or VETS-100. The Jobs for Veterans Act of 2002 (JVA) amended VEVRAA's reporting requirements both in the contract dollar amount and veteran categories, and asked … [Read more...]
