Pay range transparency empowers job applicants with crucial information to negotiate salaries and make informed career decisions. It also encourages businesses to proactively review compensation practices, address unjustified pay disparities, and strengthen their ability to attract and retain top talent.
This Act requires that employers include salary or wage range information in all postings for job opportunities, both internally and externally. Employers are required to maintain records relating to job descriptions and wage rates for current employees and for 3 years after the departure of an employee. The Department of Labor may bring an administrative action to enforce the pay transparency provision. The requirements of this Act do not apply to employers with 10 or fewer employees.
The Act takes effect 1 year after its enactment.