[SchoolFinance] New Paid Family & Medical Leave - budget strategy?

[Kate Bolton]

Hi all, happy New Year!

Wondering whether you plan to budget for the new payroll tax for Paid
Family & Medical Leave in your districts and how you will estimate it...

The language of the budget bill says that a total of 1% of all wages must
be collected as payroll premiums, and that up to 50% of the required
premium may be deducted from the employee's wages. Knowing that DOL
rulemaking will be going on at the same time we are all preparing to
present our budgets, I'm tempted to prepare for the worst and budget the
full 1% based on a January 1, 2025 start date, as I would much rather be
able to reduce my cost estimates for second reading than have to add to
them.

What are y'all thinking? Will you use 0.5% as the employer share? Budget
the full 1%? Roll the dice and leave it out of your projections?

Thanks!

:) Kate

Kate Bolton
(she/her/hers and here's why <https://www.mypronouns.org/what-and-why/>)
Director of Business & Finance
Scarborough Public Schools
Tel: 207-730-4114
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