On November 3, 2020, Colorado voters passed Prop 118, thereby enacting a statewide paid leave law:
- What: Colorado Family and Medical Leave Insurance Act (“FAMLI Act”) to provide up to 12 weeks of paid leave via payroll tax on both employers and employees, plus 4 weeks for pregnancy or childbirth complications – with job protection (i.e., no retaliation/discrimination).
- When: FAMLI Act taxes due by employers and employees starting January 1, 2023, with leave available January 1, 2024.
- Who: Employers with 10+ employees who don't have a private plan with the same coverage as FAMLI Act; and Employees earning at least $2,500 in wages taxable under the FAMLI Act having eligible reasons and proper documentation (to still be determined).
- Eligibility: Employees may receive FAMLI Act paid leave if it is for birth/adoption care; serious health condition care for employee or his/her family; active-duty triggers leave need; or safe leave needed because of domestic violence, stalking, or sexual assault/abuse.
- Financials: Employees may receive 90% of their weekly wages up to 50% of the state average weekly wage and 50% of their weekly wages above 50% of the state average weekly wage – total cannot exceed $1100 per week. Employees and employers each pay a 0.45% tax on wages up to $161,700.
Comments
There are no comments for this post. Be the first and Add your Comment below.
Leave a Comment