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    Description: Actuarial study of the family and medical leave premium rate, premium rate structure, weekly benefit formula, duration of benefits, fund reserve, and other components as necessary to determine an actuarially sound rate and future rate-setting mechanism of the family and medical benefit insurance program.
    Law: 2023 Minn. Laws Chap. 59 Art. 1 Sec. 41
    Agency(ies)/Supplier(s): Minn. Dept. of Employment and Economic Development
    Due Date: 10/31/2023
    Frequency: One time
    Subjects: Children/Youth/Families - Parental/Family Leave
    Health Care - Health Insurance
    Note: The Minn. Dept. of Employment and Economic Development must contract with a qualified independent actuarial consultant. See also 2024 letters from Milliman concerning paid family leave: "Actuarial Analysis for the Minnesota Paid Family and Medical Leave Program" and "Actuarial Analysis for the Minnesota Paid Family and Medical Leave Program" and "Actuarial Analysis for the Minnesota Paid Leave Program"

    Item(s) Received

    TitlePublisher(s)Publication DateCoverageDate ReceivedReport Link
    Actuarial Analysis for the Minnesota Paid Family and Medical Leave Program Milliman USA
    Minn. Dept. of Employment and Economic Development         		October 27, 2023 10/27/2023 23-1691.pdf