ALL businesses are required to register with the Colorado SecureSavings Program and indicate one of the following:
- Certify exempt from participation
- Opt out due to an alternative qualified savings plan being offered
- Enroll in the Colorado SecureSaving plan
Which businesses have to use the Colorado SecureSavings Program?
If your business meets all of the following criteria, you are required to use the Colorado SecureSavings program:
- Has at least five employees
- Does not already offer a qualified retirement program
- Has been active for more than two years
If you use Colorado SecureSavings, Payroll City can automatically handle all the necessary reporting for you. If you use an alternative plan provider, Payroll City may be able to help with that as well. Contact us right away to see how we can help you administer your retirement plan.
Learn more about Colorado SecureSavings here:
The Colorado Healthy Families and Workplaces Act (HFWA) requires Colorado employers to provide two types of paid sick leave to their employees - public health emergency (PHE) leave and accrued leave. The following points apply to both PHE and accrued leave:
- Leave must be paid for time on leave, and at the same pay rate the employee earns during time worked.
- Leave can’t be counted against employees as absences that may lead to firing or other negative action.
How much earned paid sick time must an employer offer an employee?
- Employees accrue one hour per every 30 hours worked
- Colorado requires up to a maximum of 48 hours of paid sick leave
- Employees can carry over up to 48 hours of unused paid sick leave to the next year
- Colorado also requires that employers provide additional paid sick leave during public health emergencies, based on the employee's hours (The COVID-19 emergency leave is expected to remain in effect until at least February 2023)
Who is eligible for this leave?
- All employees are covered under the law and are required to earn sick leave
- Exemptions apply for federal employees and certain railroad employees subject to federal law
When can an employee begin using this time?
There is no waiting period to qualify for taking sick leave in Colorado. The employee is entitled to use their accrued time for one of the stated purposes of the law as it accrues.
Employees may use paid sick leave for themselves or their family member, for any of the following reasons:
- Preventive medical care
- Diagnosis or treatment for a physical illness or injury
- Diagnosis or treatment for a mental illness
- School closures or childcare closures due to a public health emergency, as declared by a public official
- Reasons related to sexual assault, harassment, or domestic abuse
Default accruals in our software accommodate the minimum requirements for Colorado sick accruals.
Click here to see if a public health emergency is in effect: https://cdle.colorado.gov/hfwa