Law lowers unemployment insurance premiums for start-ups
The bill lowers the rate new employers must pay to 1.7 percent of the first $11,000 of an employee’s wages. Sponsored by Rep. Larry Liston, R-Colorado Springs, and Sen. Suzanne Williams, D- Aurora, the new law replaces the amount businesses would have had to pay under a 2011 law.
That law required new employers to pay premium rates of more than 3 percent per $11,000.
SPONSORED CONTENT
Empowering communities
Rocky Mountain Health Plans (RMHP), part of the UnitedHealthcare family, has pledged its commitment to uplift these communities through substantial investments in organizations addressing the distinct needs of our communities.
New employers will now pay the lower rate unless they have benefits charged against them from an earlier business.
The legislation will mean the Unemployment Insurance Trust Fund will see $24.4 million less over the next three fiscal years, according to the state.
The bill lowers the rate new employers must pay to 1.7 percent of the first $11,000 of an employee’s wages. Sponsored by Rep. Larry Liston, R-Colorado Springs, and Sen. Suzanne Williams, D- Aurora, the new law replaces the amount businesses would have had to pay under a 2011 law.
That law required new employers to pay premium rates of more than 3 percent per $11,000.
New employers will now pay the lower rate unless they have benefits charged against them…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!