Metropolitan State University of Denver is committed to being one of Colorado’s best places to work by offering competitive and meaningful benefits to employees. As part of that commitment, the University has been covering the full employee portion of Colorado’s Paid Family and Medical Leave Insurance (FAMLI) program, ensuring that employees have access to paid leave without the additional payroll deduction.
Starting this year, the employee portion of the premium, paid for by the University, is considered a taxable benefit and the related value will be included in each employee’s payroll, impacting their tax withholdings.
What is FAMLI?
FAMLI ensures that Colorado workers have access to paid leave to take care of themselves or their family during life circumstances that pull them away from their jobs, so workers don’t have to choose between earning a paycheck and taking care of their family. Colorado voters approved the FAMLI program in 2020. MSU Denver has partnered with Sun Life Assurance Company of Canada to implement FAMLI for MSU Denver employees and provide paid family and medical leave administration and benefits since Jan. 1, 2024.
Under the program, Colorado workers can receive up to 12 weeks of paid leave per year for:
- Bonding with a new child (including adoption and foster care).
- Caring for their own serious health condition.
- Caring for a family member with a serious health condition.
- Making arrangements for a family member’s military deployment.
- Addressing immediate safety needs related to domestic violence or sexual assault.
Generally, employers and employees contribute to the program, but MSU Denver has always covered both shares, making FAMLI an even greater benefit for employees.
For more details on FAMLI and Sun Life, see the plan notice.
What to expect on your paycheck
Because MSU Denver is paying the employee portion of the premium, that amount is considered taxable income under IRS and Colorado tax laws. The Office of the Controller has made necessary adjustments for the 2024 payroll year to ensure that this taxable amount appears in all employees’ accounts. This year, employees have begun seeing this adjustment reflected in their payroll records and tax withholdings.
For questions regarding your benefits, contact [email protected].
For questions regarding taxable income or your W-2, contact [email protected].
