Insurer Settles EEOC Suit Over Alleged Sex Bias
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WASHINGTON — An insurance company has settled a lawsuit filed by the Equal Employment Opportunity Commission by agreeing to increase retirement benefits for 60,000 female college and university professors.
The EEOC said Wednesday that Teachers Insurance & Annuity Assn. signed a court order ending the sex-bias suit in U.S. District Court for the Southern District of New York.
Under the order, the New York-based insurer will increase retirement benefits by some $20 million by increasing payments for women to the same level as their male counterparts.
Teachers Insurance and its affiliate, College Retirement Equities Fund, provide annuities to more than 885,000 college and university employees.
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