Family and Medical Leave Insurance Program - Colorado FAMLI Wage Increase 2024
Effective: July 1st, 2024
The average Colorado employee wage has gone up, which means changes for the Family and Medical Leave Insurance Program (FAMLI). FAMLI benefits are calculated using an individual’s average weekly wage in relation to the state average weekly wage. These changes went into effect July 1st, 2024.
The FAMLI website gives an example of how the change will impact FAMLI leave: If an employee has an average weekly wage of $1,000, they previously had a weekly benefit amount of $784. However, now their weekly benefit amount has gone up to $794.
This also has changes yet to be enacted. Starting next year, new claims filed will have a maximum benefit amount capped at $1,3242.21, as opposed to the current $1,100. Since FAMLI benefits are paid for by the state, employers shouldn’t have to take any action at this time, but employee on FAMLI leave who are not at the maximum benefit amount may see an increase in their weekly benefit amount.
You can find the announcement on FAMLI’s website here.
Get day-to-day updates on Family and Medical Leave Insurance Program - Colorado FAMLI Wage Increase 2024 visit the Vida HR Knowledge Center (Vida HR Clients Exclusive).
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