Expansion includes disclosures regarding bonuses, benefits, and non-wage compensation.
On February 2, 2023 three New York City Council members introduced Int 0907-2023 that proposes changes to Local Law 32, the salary disclosure law, which took effect on November 1, 2022. If passed, the bill would require employers to include in all job listings, a description of the available position, promotion, or transfer opportunity along with the non-salary or wage compensation for the position. Compensation information would include bonuses, benefits, stocks, bonds, options and equity or ownership, if applicable. The proposed amendment would also make it unlawful for employers to fail to disclose to current employees, annually or upon request, the “range of compensation” for the employee’s job title, including bonuses, benefits, stocks, bonds, options and equity or ownership.
Int 0134-2022 amended the salary disclosure law (Local Law 32) to require employers to post the minimum and maximum salary information for any new job, promotion or transfer opportunity. This law applied to all positions that were performed in the city and to employees on the payroll, either paid on an hourly or salaried basis.
If the proposed bill is passed, it will take effect 180 days after it becomes law.
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We will continue to monitor and report any updates to this proposed legislation. For clients who wish to take preventive measures to evaluate their pay practices, OutSolve’s Pay Equity Analysis Services are available. For immediate support in the area of pay practices, contact OutSolve \ at info@outsolve.com or by calling 888.414.2410.