Employee Compensation

Employee Compensation

Illinois Public Act 97-0609 became law effective January 1, 2012. The Public Act amends the Illinois Open Meetings Act and the Illinois Pension Code, and establishes new reporting requirements for public bodies in Illinois.

Among the law’s requirements are the following: 

  1. All IMRF employers must post, within 6 days of the approval of a budget, the total compensation package for each employee having a total compensation package which exceeds $75,000 per year; and, 
  2. Any IMRF employer that approves an employee’s total compensation package equal to or in excess of $150,000 per year must post on its website, at least 6 days before the approval, the total compensation package for that employee. 

Total compensation package” for purposes of the Act means “payments by the employer to the employee for salary, health insurance, a housing allowance, a vehicle allowance, a clothing allowance, bonuses, loans, vacation days granted, and sick days granted.” 

 

Employee Compensation Employee Compensation (8 KB)

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