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.


Investment Solutions
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.

Employee Benefit Programs
Employer sponsored retirement plans can be a vital asset to your company as well as your employees providing significant tax incentives to save and invest for retirement. Cosmo Financial works closely with both small and large employers in the corporate and non-profit sectors to identify the proper plans for your company. Our broad range of programs include:
401Ks
Profit-Sharing Plans
Simple IRAs
SEP IRAs
Reach out to us, and we’re glad to talk!

 

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Posted 7:00 AM

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