On August 30, 2019, the New York Department of Financial Services (DFS) published the new premium rate for Paid Family Leave (PFL) benefits for the calendar year 2020. The maximum contribution rate will be set at 0.27% of the employee’s gross annualized wages capped at $72,860.84 (based on the new New York State Average Weekly Wage (NYSAWW) ) therefore, the 2020 maximum employee contribution will be $196.72 per employee.
In 2018, the maximum contribution rate was set at 0.153% of the employee’s gross annualized wages capped at $70,569.72 for 2019 (based on the new New York State Average Weekly Wage (NYSAWW) ).The 2019 maximum employee contribution was $107.97 per employee.
This rate is reflective of the utilization of PFL along with the scheduled benefit increase which will be going into the 3rd year of the planned 4-year phase-in schedule. The 2020 benefit duration remains the same at 10 weeks, while the maximum weekly benefit amount increases to $840.70 (60% of employee’s average weekly wage (AWW) capped at 60% of the New York State Average Weekly Wage). In 2019, this was capped at 55%.
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