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With that as a backdrop, let’s turn to highlight some of the issues that should be considered when designing an equity-based long-term incentive plan for a private company.

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Other states and cities have also taken their cue and are considering legislation, such as Hawaii and Illinois (their legislations will take effect in 2024 and 2025, respectively).

Taking Some Proactive Steps With that as a backdrop, Reid explained employers can and should take several steps while the lawsuits run their course.

So … that worked to confirm (again, for now) Step 2.

As noted, the proposed Connecticut legislation would expand the existing law and follow several state and local jurisdictions — including California , Colorado, New York State, and Washington, as well as Jersey City, New Jersey, and Ithaca, New York City, Albany County, and Westchester County in New York State — that already require employers to disclose wage ranges in job postings.

Offering this level of support might be time-consuming and costly, but it could be a major differentiator that sets your company apart from the typical benefits package offered at other organizations.

“New York City’s guidance on its pay transparency requirements does not address this question,” Pechaitis said.