| New York Sick Leave |
| Starting on September 30, 2020, all employees in New York will begin to accrue protected sick leave. This leave will not be available for use until January 1, 2021. All employers are required to provide protected sick leave, but the amount and whether it’s paid will depend on their size and net income:4 or fewer employees and net income of $1 million or less: 40 hours, unpaid4 or fewer employees and net income of more than $1 million: 40 hours, paid5–99 employees: 40 hours, paid100+ employees: 56 hours, paidEmployees will accrue one hour of sick leave for every 30 hours worked. Accrual begins on September 30, 2020, or the employee’s first day of work, whichever is later. Unused sick leave will roll over into a new benefit year, but employers can limit yearly use to 40 hours if they have 99 or fewer employees, and 56 hours if they have 100 or more. We do not know yet whether front loading or lump sum systems will be allowed, but we expect that they will be and will update the HR Support Center when that information becomes available. Unused sick leave does not have to be paid out at termination. Employees may use their sick leave for any of the following:A mental or physical illness, injury, or health condition of the employee or their family member (regardless of whether it has been diagnosed or requires medical care when the employee requests leave);The diagnosis, care, or treatment of a mental or physical illness, injury, or health condition of, or need for medical diagnosis of, or preventive care for the employee or their family member; orCertain reasons related to domestic violence, a family offense, a sexual offense, stalking, or human trafficking of the employee or their family member (unless the employee committed the offense).Employers that already have sick leave plans at least as generous as that required by the state do not need to change their offering. Employers who are subject to local sick leave laws must offer the higher level of benefits, whether that’s under local or state law. We anticipate additional guidance and regulations from the state (for instance, a required poster and a webpage with FAQs) prior to January 1, 2021, but the information currently available is limited to the text of the statute. We will update the HR Support Center as new information becomes available. |
Homeowner's Insurance
Home Improvement Alert: Are You Properly Insured?
As homeowners embark on major renovation projects, they may unknowingly expose themselves to significant financial risks by not updating their insurance policies. A recent survey by Nationwide highlights this growing concern, revealing that many homeowners complete substantial upgrades without adjusting their coverage. Key Findings: Popular Projects and Costs: Financial Implications: Empty nesters, in particular, are pouring more resources into high-value upgrades. For example: Expert Insight: Casey Kempton, President of Nationwide’s P&C Personal Lines, emphasizes the importance of revisiting insurance coverage:“Every homeowner should review their home insurance coverage with their independent insurance agent regularly to avoid potential gaps.” Protect Your Investment: At Skyscraper Insurance, we understand the complexities of home improvements and their impact on insurance. Whether you’re adding a new room or upgrading your kitchen, our experts can help ensure you’re fully covered. Don’t leave your dream home unprotected! Contact us today for a free consultation to safeguard your renovations and future.#SkyscraperInsurance #HomeRenovations #StayCovered #RiskManagement
