Open Meetings Act: Posting total compensation packages
June 15, 2012
Effective January 1, 2012, all IMRF employers must post the total compensation package for employees whose compensation package exceeds $75,000 per year. This posting is required within six business days of approval of the budget. It is a provision of P.A. 97-0609, which defines “total compensation package” as payment by the employer to the employee for salary, health insurance, housing allowance, vehicle allowance, clothing allowance, business loans, vacation days granted, and sick days granted.
This posting requirement is found in the Open Meetings Act, and not the Illinois Pension Code. IMRF developed a simple Excel spreadsheet we will use to meet this new posting requirement. As a courtesy, we are making the spreadsheet available to our employers.
Please note: this partially completed spreadsheet is a suggested framework only and can be modified by the employer for its own use. In addition, this spreadsheet:
- Includes a line for the employer to list those forms of compensation it does not provide
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Includes columns for all forms of compensation listed under P.A. 97-0609
- If a specific form of compensation is paid to some employees but not all, those who do not receive it are listed with a zero in that column
- If a specific form of compensation is not paid to any employee, that column can be deleted
- Includes lines for all employees of the employer, even those who do not participate in IMRF
- Does not put a dollar value on sick or vacation days
- Calculates the total compensation amount after values are entered
If an employee’s pay package—when considering all forms of compensation—exceeds $75,000, that employee should be included in the posting.
Download the spreadsheet here.
Questions?
IMRF first announced P.A. 97-0609 in General Memo 620. However, IMRF is not the ultimate authority on the implementation of posting employee compensation.
Questions about this new requirement under the Open Meetings Act should be directed to the Public Access Counselor at the office of the Illinois Attorney General (publicaccess@atg.state.il.us).