In support of our commitment to parents, we offer a Paid Parental Leave benefit. This benefit provides up to 4 weeks of paid parental leave within the first 12 months after a birth or adoption of a child.
For more information please reference the Paid Parental Leave Policy and FAQ's below.
Paid Parental Leave FAQs
What is Paid Parental Leave?
Paid Parental Leave provides eligible employees with up to four (4) weeks of paid time off to bond with and care for a newborn child or a child newly placed through adoption or foster care.
Who is eligible for Paid Parental Leave?
To be eligible, you must:
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Have worked for loanDepot for at least 12 months (the months do not need to be consecutive if worked within a 5-year period).
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Have worked at least 1,250 hours during the 12 months immediately before the leave begins.
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Be a regular full-time or part-time employee. Temporary employees and interns are not eligible.
You must also meet one of the following:
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Be a birthing parent who has been medically released from maternity disability.
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Be the spouse or registered domestic partner of a person who has given birth.
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Adopt a child or have a child placed with you through foster care (age 17 or younger).
How much Paid Parental Leave do I receive?
Eligible employees may receive up to four (4) weeks of paid parental leave per birth, adoption, or foster placement event.
Is the leave paid?
Yes. Paid Parental Leave is paid at 100% of your regular straight-time pay and is paid through the normal payroll process on regularly scheduled pay dates.
Can I receive more than four weeks if I have twins or multiple children placed at the same time?
No. Multiple births or placements do not increase the four-week leave entitlement.
Can I take the leave intermittently?
No. Paid Parental Leave must be taken in one continuous block of time.
When must I use my Paid Parental Leave?
You must use the leave within 12 months of the birth, adoption, or foster placement. Any unused leave will be forfeited after that period.
Can I take Paid Parental Leave more than once in a year?
No employee may receive more than four (4) weeks of Paid Parental Leave during a rolling 12-month period, even if multiple qualifying events occur.
How does Paid Parental Leave work with FMLA?
Paid Parental Leave runs concurrently with FMLA and applicable state family leave laws. Time taken under Paid Parental Leave counts toward your available FMLA entitlement when applicable.
What if I live in a state that offers Paid Family Leave benefits?
If state paid family leave benefits are available, your loanDepot Paid Parental Leave benefit will coordinate with those benefits. Combined payments cannot exceed 100% of your regular pay. Employees are responsible for applying directly for any available state benefits.
Will my benefits continue while I am on leave?
Yes. Your benefits will continue during your Paid Parental Leave period just as they would during other company-paid leave periods.
What happens if a company holiday falls during my leave?
You will receive holiday pay for the holiday. However, the holiday does not extend your Paid Parental Leave entitlement.
What if I am not eligible for FMLA?
Employees whose Paid Parental Leave does not qualify under FMLA will still receive job protection during their approved Paid Parental Leave period, up to four weeks.
How do I request Paid Parental Leave?
Please notify your manager and the Benefits team at least 30 days before your anticipated leave date whenever possible. If the need for leave is unforeseeable, provide notice as soon as possible. Documentation may be required to support your request.
What documentation may be required?
The Benefits team may request documentation to verify the birth, adoption, foster placement, or medical release from maternity disability, as applicable.
What happens if I leave the company before using my Paid Parental Leave?
Unused Paid Parental Leave is not paid out upon termination of employment.
Need Assistance?
If you have questions about eligibility, required documentation, or how Paid Parental Leave coordinates with FMLA or state leave benefits, please contact the Benefits team at liveWell@loandepot.com