Colorado’s New MYUI+ Employer System
The Colorado Department of Labor & Employment Unemployment Division (CDLE-UI) introduced a new system for employers to pay premiums and file wage reports online in October 2023.
Colorado’s New MyUI+ Employer Premium Reporting System
- Offers new self-service features that are long overdue.
- Integrates with the benefits processing system
- Improves the timeliness, quality, and overall performance of benefits processing & challenging determinations alike.
Previous Premiums And Wage Reporting Provided Little Self-Service
- Customer support functionality was borderline draconian and in dire need of an upgrade.
New Employer Accounts Can Be Activated Here
For Those Of Us Old-School Employers
BE ADVISED THAT ANNUAL RENEWABLE APPROVAL IS REQUIRED TO RECEIVE PAPER MAIL NOTICES.
- Employers must now submit a Non-Electronic Communications Waiver form and receive approval before wage reports and other correspondence will be accepted via paper mail.
- If you have an approved paper waiver filed, CDLE will mail paper wage reporting forms with the expectation that they will be filled out and sent back in paper form.
- Paper waivers are valid for one calendar year and must be renewed annually.
- Employers with expiring waivers will receive a reminder 30 days before expiration.
On A Bike Ride The Other Day With One Of My Favorite Clients And A Prolific Colorado Job Creator
- We had a wonderful conversation about what his team needs to look out for with this new government system.
- The following are his most relevant questions.
IS COLORADO’s UNEMPLOYMENT INSURANCE TRUST FUND SOLVENT?
- As of 6/30/2023, the UI Trust Fund had a balance of $286.6 million and is no longer in a deficit.
- That surplus translates to a reserve ratio of 0.17%.
- The 2023 UI Trust Fund Status Report is found at colmigateway.com.
HOW DOES THE RESERVE RATIO IMPACT MY RATE?
The reserve ratio is the indicator that determines the standard premium rate schedule Colorado employers will be on for the following calendar year and whether those employers will be assessed an additional solvency surcharge. The 0.17 percent reserve ratio means employers will shift from the deficit rate schedule used in 2023 to the 0.000 to 0.0004 rate schedule in 2024.
WHAT IS THIS YEAR’S SOLVENCY SURCHARGE?
- Because the 2023 reserve ratio was below 0. 7%, the solvency surcharge is in effect in 2024.
- That surcharge is calculated off the solvency surcharge schedule per Colorado Employment Security Act (CESA) 8-76-102.5.
- The Colorado legislature turned off or suspended the solvency surcharge in 2021, 2022 and 2023.
WHY WERE CHANGES TO THE BASE RATE MADE?
- New this year, your rate is displayed in two categories: Base Rate & Support Rate.
- Decoupling into two rates is intended to:
- provide more transparency into how rates are calculated.
- Bring Colorado into accordance with US Department of Labor compliance.
- It does not increase how much you pay.
DID RATES GO UP THIS YEAR?
Employers may see an increase or decrease in rates due to multiple factors, including:
- Changes to the rate table from Senate Bill 23-232.
- Addition of the solvency surcharge.
- Increases to the wage base.
WHAT IS CALCULATED IN THE SUPPORT RATE?
The support rate is the portion of your combined rate that is attributed to three state-managed funds: the Employment Support Fund (ESF), the Employment and Training Technology Fund (ETTF), and the Benefit Recovery Fund (BRF). Your support rate contributions do not count towards your experience rating. More info on these funds can be found here -> cdle.colorado.gov/businesses-employers
WHY DID THE RATE SCHEDULE CHANGE?
The Colorado legislature adopted a new employer rate table in 2024, per SB 23-232. You may notice an adjustment to your typical experience rate based on the latest rate schedule.
WHAT IS THE CHARGEABLE WAGE BASE THIS YEAR?
The 2024 chargeable wage base increased to $23,800 from $20,400 in 2023 as per SB 20-207.
WHY DOES MY RATE NOTICE LOOK DIFFERENT THAN PRIOR YEARS?
The Unemployment Insurance Division recently modernized its employer premiums system. The updated rate notice was developed in their new system and reflects the updates outlined below.
Please contact me today for more on Colorado’s New MyUI+ Employer Premium Reporting System.