Up-To-Date Illinois Wage Laws

In 2024, Illinois wage laws are experiencing significant changes, affecting minimum wage, equal pay, and wage payment collection, requiring employers and employees to adapt and stay informed. The Illinois Minimum Wage Law is increasing, reaching $20 per hour from April 1, 2024. This will impact businesses' payroll budgets and require adjustments to accommodate higher wages for employees. Adapting business practices to comply with these changes ensures ongoing success and enhanced employee satisfaction.

The Illinois Equal Pay Act prohibits employers with four or more employees from paying unequal wages to men and women for completing the same or similar work. An amendment was introduced that mandates that employers in Illinois with 15 or more employees must disclose their pay scale and their benefits in job postings for positions in any job posting beginning January 1, 2025. This means that the wage or salary and a general description of the benefits and other compensation the position offers must be included in the job posting. Staying informed about these amendments allows businesses to advocate for fair compensation practices and foster inclusive workplaces.

Furthermore, the Illinois Wage Payment Collection Act mandates timely and accurate employee wage payments. This law makes sure that employers are reasonably paying their employees. Employers must notify the employees of their pay rate and method of pay and must pay their employees all earned wages at least semi-monthly. Not complying with this Act can carry severe penalties.

For more information, please contact The Center for Financial, Legal, & Tax Planning Inc. professionals at (618) 997-3436.