Colorado paid family and medical leave
Beginning January 2024, most Colorado workers will be eligible for paid family and medical leave under Colorado's Paid Family and Medical Leave (PFML) law.
PFML is available to covered individuals who work in Colorado. This includes individuals who have earned at least $2,500 in wages subject to premiums during the base period.
An employer may opt out of the state program by having a state-approved voluntary plan. Local government groups can opt out. Self-employed individuals must opt in.
Key features
|
Coverage options |
State plan or state-approved voluntary private plan |
|---|---|
|
Funding begins January 1, 2023 |
|
|
Waiting period |
0 days |
|
Benefit (begins January 1, 2024) |
|
|
Maximum benefit |
$1100 per week |
|
Benefit duration (within a 52 consecutive week period) |
Combined paid family and medical leave – 12 weeks, 4 additional weeks for a serious health condition related to pregnancy complications or childbirth complications |
Principal® has a solution
We’re here to help by offering a state-approved voluntary private plan. When you have other group insurance products with us, it’s easy to add this solution. Plus, you get the same top-level service that comes with any of our products.
You can be assured Principal is committed to offering a private plan that meets your obligation under the paid family and medical leave law as a Colorado employer. Our fully insured product is available to employers who offer at least one other qualifying, insured Principal product (voluntary term life, dental, vision, or long-term disability) and have 10 or more employees working in Colorado.
Get more information about the private plan solution from Principal.
Want to learn more?
Talk to your financial professional to design a benefit offering that meets the specific needs of your business and employees.