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The Ledbetter Fair Pay Act just celebrated its third anniversary two weeks ago. Not surprisingly, there's been a surge of gender pay gap-related discussions, presentations and even novelties. The Department of Labor announced its "Equal Pay App Challenge, and last week there was new compensation-related legislation introduced in Congress.
Representative Gregory Meeks (D-NY) introduced a bill that would require companies to include information on the composition of women and minorities in their annual 10-K report to the Securities and Exchange Commission. Specifically, the bill would require employers to report compensation information for all employees and create five brackets of compensation - ranging from the lowest 20 percent to the highest 20 percent - and report the number of women and minorities in each bracket.
In this installment, we discuss some of the ways in which the Department of Labor and Congress are attempting to understand the gender wage gap - and provide some suggestions of our own.