Update Applicable to:
All employers with four or more employees in New York City
What happened?
On February 2, 2023, the New York City Council introduced a bill (Int. No. 907) that proposes changes to Local Law 32, New York City’s current salary disclosure law, which became effective on November 1, 2022.
What are the details?
Currently the law requires employers to disclose minimum and maximum salary ranges in job advertisements, including postings for internal promotions or transfer opportunities, for positions that can or will be performed in New York City.
The bill proposes additions to the current law, including requiring an employer to:
- include a description of the job, promotion, or transfer opportunity in all advertisements;
- describe nonwage compensation in postings, including “bonuses, benefits, stocks, bonds, options and equity or ownership”; and
- provide the minimum and maximum salary and any nonwage compensation to current employees annually and upon request from an employee.
If passed, the bill would take effect 180 days after it becomes law.
For more information, please see the links below:
New York City Pay Disclosure Bill
What do employers need to do?
Employers should review the links provided above and be on the lookout for anymore news regarding these proposed amendments. Vensure will continue to provide more updates as more news is received.
