Compensation Disclosure

Public Act 97-0609

Public Act 97-0609 amends the Illinois Open Meetings Act and the Illinois Pension Code and provides as follows:

(1) All Illinois Municipal Retirement Fund (“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 that exceeds $75,000.00 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 “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, and sick days granted.”

Compensation FY 17