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The Colorado Department of Labor and Employment recently released the 2023 Publication and Yearly Calculation of Adjusted Labor Compensation Order.
Beginning in 2023, Colorado employees whose employers do not offer a retirement plan will have access to an optional retirement savings plan through a state-facilitated retirement savings program, the Colorado SecureSavings program.
Colorado employers may want to begin preparing for the implementation of Colorado’s new state-run Paid Family and Medical Leave Insurance (FAMLI) program. While Colorado voters approved Proposition 118 nearly two years ago, which set the path for implementation of the FAMLI program, employers and employees will not feel its effects until January 1, 2023. However, due to the impact FAMLI will have on the employment leave landscape, employers may want to begin educating themselves and their employees now on its requirements, as compliance will require cooperation across multiple departments.
The Colorado Department of Labor and Employment has been busy this summer with the release of several Interpretive Notice & Formal Opinions (INFOs), providing guidance on the evolving landscape of Colorado employment law.