Posted Wednesday, November 2, 2022
As many of you know, starting January 1, 2023, all employers and employees will be required to pay into the new CO Family and Medical Leave Insurance Program.
The contribution is 0.9% of employees’ wages and split evenly between employees and employers, 0.45% each. These amounts will automatically be added to your payroll in Paycom starting with the first payroll of 2023. Please see the attached documentation for more information.
Right now, we are exploring our options for a possible private plan and how it might interact with our Short-Term and Long-Term Disability, but those aren’t available yet, so in the meantime, we will proceed as outlined in the documentation and the setting in Paycom.
We will keep you updated with more information as it becomes available.
Click here to read the CO Paid Family Medical Leave Overview document.
Click here to read the CO Paid Family Medical Leave Checklist document.