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Total Compensation Disclosure


PA97-0609 Total Compensation Disclosure

Public Act 97-0609 became effective, January 1, 2012.   This act amends the Illinois Open Meetings Act and the Illinois Pension code and established new requirements for Illinois public bodies.

The law requires all IMRF employers to post the total compensation package for each employee having a total compensation package that exceeds $75,000 either prior to the approval of the budget or compensation package (if over $150,000). 

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

The Village has elected to provide employee compensation for all of its employees regardless of salary level.

 

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