Insights

Gov. DeSantis recently signed the following bills into law: HB 721, as enacted, amends the insurance laws to specify standards for transacting paid family leave insurance in Florida. The state does not require employers to provide paid family leave, but HB 721 allows insurers to provide paid family leave coverage for an employer wishing to offer such leave. Specifically, life insurers may transact paid family leave insurance as a policy or as a rider to a group disability income policy. Further

On April 12, 2023, Gov. Youngkin signed SB 1086 into law, expanding unpaid leave for Virginia employees following an organ or blood marrow donation. Beginning July 1, 2023, the law requires Virginia employers with 50 or more employees to provide eligible employees with up to 60 business days per 12-month period of unpaid leave for organ donation and up to 30 business days per 12-month period of unpaid leave for bone marrow donation. Employees are eligible if they have worked for the employer fo

The RetirePath Virginia Retirement Savings Program was initially created by legislation on April 15, 2021, and is expected to launch in July 2023. The program is an automatic-enrollment payroll deduction state-run IRA program for employers who do not otherwise offer employees a qualified retirement savings program. RetirePath contributions default to a Roth IRA, but employees have the option to recharacterize their contributions to a traditional IRA. An employee is eligible to participate in Re

On May 25, 2023, Gov. Walz signed a bill that created a statewide Paid Family and Medical Leave program. Under the program, Minnesota employees will be eligible for paid family and medical leave once they have earned more than $3500 within the state over the course of a year. These employees will be entitled to partial wage replacement for 12-20 weeks of leave in a 52-week period for medical leave, bonding or caring for a family member. A fund maintained by the state will pay the partial wage r

On May 24, 2023, Gov. Walz signed a bill providing paid sick and safe leave to employees in the state. Under the new law, effective January 1, 2024, employees (including part-time and temporary employees) performing work for their employer in Minnesota for at least 80 hours in a year may accrue up to 48 hours of this leave per year (at a rate of a minimum of one hour of this leave for every 30 hours worked). Independent contractors are exempt. Employees can take this leave for the following rea

On May 19, 2023, Gov. Walz signed a bill creating a state-sponsored program allowing private sector employees to save for retirement. Starting January 1, 2025, the program (administered by a board) will establish individual retirement accounts (IRAs) into which eligible employees will contribute a designated portion of their pay. Employers in Minnesota with five or more employees that do not provide retirement benefits to those employees are required to enroll its employees in the program and w

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Navigating your benefits options amidst the evolving workplace.

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