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DENVER (KDVR) — You will soon see a new deduction in your paycheck, and your boss has less than a month to tell you about it. The Problem Solvers are getting answers about the state’s new family and medical leave program, known as FAMLI.

The date to keep in mind, for now, is Jan. 1. That is the date you and your job will start putting money into this fund to use in the future.

“Businesses should be communicating with their employees and letting them know that their deductions will be beginning on January 1st of 2023,” said Tracy Marshall, FAMLI division director. “Employers can anticipate needing to withhold 0.45% from their employees’ paychecks and then also contributing a matching 0.45% from their organization and submitting that to the state quarterly beginning quarter one.”

How much will be deducted for paid family leave?

So what exactly does that mean for you? The short answer is that it’s different for everyone. It all depends on your salary, but the state is making the math a little easier.

“You can go in and use our premiums calculator and that will tell you, whether you are hourly paid or salaried, what you can anticipate your contribution rate being and it will also show you what your benefit would be once we’re up and running in 2024 to receive claims,” Marshall explained.

Colorado voters paved the way for this to happen through Proposition 118. Nearly 58% of voters said yes to the ballot question about creating the program back in 2020.

Now that the program is approved, you cannot opt out of it. It is insurance that provides 12 weeks of paid leave for situations like having a child, taking care of a loved one with serious medical issues or preparing for a military deployment.

“There are going to be situations in people’s lives where they are pulled away from work, whether that is a serious health condition of a family member, it may be that they have a loved one that is going on a military deployment. Those needs to be away from work will now come with some wage replacement,” Marshall said.

When will paid family leave benefits be paid out?

While workers and their employers will both start paying in less than a month, the program cannot start paying out those benefits until January 2024.

In addition to the calculator, the state’s Department of Labor and Employment has other helpful resources, like a guide for employees, an information sheet for employers to update their employees about the program and a portal for businesses to register and report their information to the state. All the information about the program can be found on its website.