We believe that transparency and access to information are very important. To help you understand what we do and how we do it, we make as much data freely available as possible. Take a look at the data we're providing about our finances and budget.
Illinois Public Act 97-0609 and Employee Compensation
In 2011 Public Act 97-0609 became law, effective January 1, 2012. That Act amends the Illinois Open Meetings Act and the Illinois Pension Code and establishes new requirements for Illinois public bodies.
Among the law’s requirements are the following:
- 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 that exceeds $75,000 per year; and
- 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.”