2021 New York Paid Family Leave Rate
September 4, 2020//Comments Off on 2021 New York Paid Family Leave Rate
The New York Department of Financial Services (DFS) published the 2021 New York Paid Family Leave (PFL) rate. The PFL rate will be increasing from 0.27% to 0.511% of the employees gross annualized wages, which is an increase of 89% from last year. The 2021 rate includes a 0.005% risk adjustment for Covid-19 claims. Additional information regarding the PFL updates can be found at paidfamilyleave.ny.gov/2021.
NY PFL Employee Contribution Rate Change for 2021 |
Employee Rate | 0.511% of employee’s weekly wages up to annualized NYS Average Weekly Wage (NYSAWW-$1,450.17*) |
Annualized NYS Average Weekly Wage Cap | $75,408.84 |
Maximum Employee Annual Contribution | $385.34 |
NY Paid Family Leave (PFL) Benefit Provisions |
Claim Year | 2021 | 2020 |
Effective Date | January 1, 2021 (applicable to new leaves beginning 1/1/21 or later) | January 1, 2020 (applicable to all leaves initiated in 2020) |
Maximum Length of Paid Leave | 12 weeks | 10 weeks |
Payable Benefit % of an Employee’s Average Weekly Wage | $971.61 (67% of NYSAWW of $1,450.17*) | $840.70 (60% of NYSAWW of $1,401.17) |
*The New York State Department of Labor annually publishes the NY State Average Weekly Wage by March 31 of each year, which will be the basis for determining the maximum benefit payable for the subsequent calendar year. https://labor.ny.gov/stats/avg_wkly_wage.shtm
Posted in Compliance, Insurance Insights