Effective January 1, 2017, California’s minimum wage will rise to $10.50/hour and until it eventually reaches $15/hour. For businesses with 26 or more employees, the $15/hour wage will be phased in by January 1, 2022.
Here is a snapshot of the schedule:
- 1/1/17 – 12/31/17: $10.50/hour
- 1/1/18 – 12/31/18: $11/hour
- 1/1/19 – 12/31/19: $12/hour
- 1/1/20 – 12/31/19: $13/hour
- 1/1/21 – 12/31/21: $14/hour
- 1/1/22 – 12/31/22: $15/hour
The minimum wage will continue to increase annually after January 1, 2023, but no more than 3.5% in a year.
For more information call your LSL Advisor.
