Yesterday, New Jersey Governor Phil Murphy signed A1827 (New Jersey Paid Sick Leave Act) into law. New Jersey now joins nine other states and the District of Columbia that have enacted paid sick leave to provide earned compensation for workers who miss work due to illness or needing to take care of a sick loved one.
The bill allows workers to accrue one hour of earned sick leave for every 30 hours worked, capped at a maximum of 40 hours each year.
Employees may use the leave time for the following occurrences:
•Diagnosis, care, treatment or recovery for the employee’s own mental or physical condition (inclusive of preventative care)
•Diagnosis, care, treatment or recovery for a family member’s mental or physical condition (including preventative care)
•Time needed as a result of an employee’s or family member’s status as a victim of domestic or sexual violence (including counseling, legal services, or participation in any civil or criminal proceedings related to the same)
•Time when the workplace, school, or childcare is closed by order of a public official due to a public health concern
•Time to attend a school-related conference or meeting
This law will take effect in 6 months.
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In today’s heavily regulated market, tax benefits and investment dividends achieved through retirement plans can be significant. Many plans offer immediate dollar-for-dollar tax savings. But the rules are diverse and complex.
Cosmo Financial’s expert consultants can help you achieve your financial objectives through a host of wealth building investment strategies and a full range of variable products to help complement your current financial position. Call for an appointment at your convenience.
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