The New York State Department of Financial Services has announced the contribution rate under the New York Paid Family Leave (“PFL”) law effective January 1, 2023, will be reduced by 10% and be set at .455% of weekly wages.
Employee contributions for PFL are calculated as a percentage of an employee’s gross wages per pay period up to the maximum contribution based on the annualized New York State Average Weekly Wage (“NYAWW”). For 2023:
The PFL benefit is 67% of an employee’s Average Weekly Wage (up to the NYAWW) payable for 12 weeks. For 2023:
The following should be noted:
Employers should prepare for the 2023 New York PFL contribution and benefit changes that begin in January. PFL coverage will typically be added as a rider on an employer’s existing disability insurance policy, although benefits can be provided through a self-funded plan approved by the New York Workers’ Compensation Board.
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