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Thursday, October 6, 2011

Municipalities Required to Post Employee Salaries



The Illinois General Assembly recently enacted Public Act 97-0609 amending the Illinois Open Meetings, and the Illinois Pension Code.  The new posting requirements are effective January 1, 2012, and require the following: 
  • Within six days after approving its budget, an IMRF employer must post the total compensation package for each employee receiving a total compensation package that exceeds $75,000 a year.
  • At least six days before an IMRF employer approves an employee’s total compensation package that will equal or exceed $150,000 a year, the employer must post the total compensation package for that employee.
Under the new law, “total compensation package” is defined as salary, employer-paid health insurance premiums, housing allowance, vehicle allowance, clothing allowance, bonuses, loans, vacation days which will be earned in that year and sick days which will be earned in that year. 

If an employer maintains a website, it can post the information on its website or post the information available at its main office.  However, if an employer selects this option, it must also post directions on its website on how to access the information.  If the employer does not have a website, it must post the information at its main office.

The Act also amends various provisions of the Illinois Pension Code.

1 comment:

  1. Good information to know and right to the point on career. Thanks for this well written post related to search jobs , i’ll follow up for more updates if you keep posting them.

    ReplyDelete