As we noted last month, the new Family Medical Leave Insurance Program (FAMLI) will soon go into effect for all Colorado employers. Employers will need to register and start deducting the 0.45% share of employee wages starting January 1, 2023, as well as submit their 0.45% employer share once a quarter (unless they have 9 or fewer employees). Self-employed and single owner S-corporations don't need to register if they don't want to participate.
Also starting in 2023 is the Colorado Secure Savings Program, which is a state sponsored retirement plan for employees who don't have access to an employer sponsored plan. Employers with less than 5 employees and/or have been in business less than 2 years are exempt, and Colorado will begin notifying businesses when it's time to register, sometime next year.
Again, please contact us or refer to the Colorado Secure Savings website: