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Committee hears DEED explain actuarial work, timing and costs tied to paid family medical leave implementation
Summary
Department of Employment and Economic Development staff explained to the House committee why paid family and medical leave analyses rely on contracted actuarial work, described contract costs and timelines, and answered lawmakers' questions about late-arriving estimates and local impacts.
Department of Employment and Economic Development officials briefed the House Workforce, Labor and Economic Development Finance and Policy Committee on the department’s use of third-party actuaries to model Minnesota’s Paid Family Medical Leave program, the timing of updated estimates and the program’s potential fiscal effects.
Evan Roe, deputy commissioner at the Department of Employment and Economic Development, said the department contracts with a qualified independent actuarial consultant as required by statute and that work takes lead time. “We contract with a third party actuarial analyses which again is required under the law,” Roe told the committee, noting the modeling requires data collection and coordination between DEED, the actuarial firm and the Legislative Budget Office.
Roe said DEED used a micro-simulation model—originally developed by the Institute for Women’s Policy Research and updated by the U.S. Department of Labor—for 2023 analyses, but the Paid Family Medical Leave law…
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