On August 31st, New York’s Department of Financial Services (DFS) published the NY Paid Family Leave (PFL) rate for the 2019 calendar year.
For 2019, the maximum contribution rate for Paid Family Leave will go from 0.126% to 0.153% of the employee’s gross annualized wages capped at the new annualized New York State Average Weekly Wage (NYSAWW) of $70,569.72* per year (learn more here); which translates to a maximum annual premium contribution of $107.97 per employee.
The rate for Paid Family Leave has been increased 21.4%. This takes into consideration the increase of benefits for 2019 which has also been confirmed as part of the rate announcement. When taking into account wage inflation (new NYSAWW), the total maximum contribution goes up by 26.1%.
Download a copy of the official announcement from New York State here.
Be on the lookout for a post coming soon where we’ll summarize everything you need to know so you’re prepared for all the changes going into effect on January 1, 2019! SIGN-UP NOW to stay in the loop on this, and all the latest PFL news.
*NY Department of Labor releases the updated NYSAWW every March 31.
This blog post is for informational purposes only and is not intended to provide legal counsel. Please consult with an appropriate professional for legal and compliance advice. Any PFL information is as of the blog post’s date stamp; it is based on the applicable statutes and regulation, and may change as regulations evolve or NY State issues guidance regarding Paid Family Leave regulations. Have more questions? Email us at pflquestions@shelterpoint.com