Important 2023 Updates for Colorado Employers
FAMLI is a Paid Family Medical Leave Insurance program. The FAMLI program will ensure all Colorado workers have access to paid leave in order to take care of themselves or their families during life circumstances that pull them away from their jobs. Employees ability to take the leave will not begin until January 1, 2024, however, premium payments begin on January 1, 2023.
Employers with 10 or more employees are required to pay the employer premium and must deduct and remit the premiums on behalf of their employees beginning the first quarter of 2023 (Employers with less than 10 employees must still deduct and remit the employee premium).
- Beginning January 1, 2023, employers are required to post a FAMLI Program Notice poster with their other employment law posters.
- Employers are required to notify their employees about the FAMLI program by January 1, 2023. We find this paycheck stuffer a helpful way to provide information to your employees.
- Employers need to create an account through the My FAMLI+ Portal to submit premium payments no later than April 30, 2023.
Minimum Wage Increase
Effective January 1, 2023, the minimum wage in Colorado will increase to $13.65. Please note that Denver’s minimum wage increases to $17.29 per hour on the same date. Below please find links to the updated posters.
- Colorado COMPS Poster (An updated poster should be available on their site soon)
- Denver Minimum Wage Poster
Required Retirement Savings Plan
Businesses with five or more employees, who have been in business for two or more years and DO NOT currently offer a qualified private retirement plan will be required to join the Colorado Secure Savings program. Implementation of the program begins in January 2023, and employers have twelve (12) months to get into compliance. Impacted employers will receive notices directly from the Colorado Secure Savings program throughout 2023.
Workers Compensation Poster Update
In August 2022, the state updated the required Notice of Injury poster that should be posted with your other employment law posters. Be sure to update your posting with this Notice of Injury poster.
Consider making other changes to your policies and handbooks that are outdated or are no longer applicable.