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Employers are not required by federal law to give former employees their final paycheck immediately. Some states, however, may require immediate payment or payment within a specific time period.
In Colorado, for voluntary termination, the paycheck is due the next regular payday. (Colorado Rev. Stat. 8-4-109(1)(b).)
For involuntary termination, no later than six hours after the start of the employer’s accounting unit’s next regular workday; except that, if the accounting unit is located off the work site, the employer shall deliver the check for wages due the separated employee no later than twenty-four hours after the start of such employer’s accounting unit’s next regular workday. (Colorado Rev. Stat. 8-4-109(1)(a).)
On January 1, 2023, employers will have new limitations when deducting the cost of unreturned company items (like laptops) from an employee’s final paycheck.
An employer must provide notice to an employee, within 10 days after employment terminates, before deducting from wages any amount of money or property the employee failed to return or repay upon termination.
If the employee returns the money or property within 14 days of the notice, an employer must repay the employee the deducted amount within 14 days after the employee returns or repays the money or property. The notice must contain: