We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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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 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.