Illinois Valley Community College anticipates paying over $600,000 more in increased wages over the next five years due to Illinois’ new minimum wage law.
Thursday night at the monthly board meeting, IVCC board members approved raising employees wages in January for those who currently make $8.25 an hour to rise to $9.25 an hour.
Per statute, Illinois’ minimum wage will incrementally increase to $15 per hour by 2025, and the first increment must begin by Jan. 1 at $9.25 per hour from the current minimum wage of $8.25 per hour.
The living wage for La Salle County residents is $11.03 per hour for a single adult without any children, according to a Massachusetts Institute of Technology calculator.
The living wage for Bureau County residents is $10.95 an hour for a single adult without children and $10.94 an hour for single adults without children in Putnam County, according to the MIT calculator.
Cheryl Roelfsema, vice president for business services and finance, said the college will be looking at paying over $600,000 more than it currently is over the next five years due to increased wages.
For the first increment increase, only student workers at IVCC will be affected as all other employees are paid more than $10 per hour.
As of Oct. 26, IVCC had 68 student workers who worked about 20 hours a week, which means, with the increase in wages, the college would adding an approximate $1,350 per week expense.
During the summer months, there are fewer student workers.
Ali Braboy can be reached at (815) 220-6931 and firstname.lastname@example.org. Follow her on Twitter @NT_LaSalle.