As you may recall, the employee funded PFL program began January 1, 2018 with a phased approach culminating in 2021. As of January 1, 2021, eligible employees will have access to up to 12 weeks (10 weeks in 2020) of job-protected, paid time off to bond with a new child, to care for a family member with a serious health condition, or to assist loved ones when a family member is deployed on active military service.
In addition to the increased leave duration, the benefit percentage increases to 67% (from 60%) of the employee’s average weekly wage.
Earlier this week the New York Department of Financial Services (DFS) released the premium rate, maximum employee contribution and the maximum weekly benefit for 2021.
Here are the 2021 numbers:
- New York State Average Weekly Wage = $1,450.17
- Employee Contribution Rate = 0.511%* (of gross wages each pay period)
- Taxable Wage Ceiling = $75,408.84
- Maximum Annual Contribution = $385.34
- Maximum Weekly Benefit Amount = $971.61
* Includes 0.005% Risk Adjustment for COVID-19 quarantine claims
If you have any questions, please reach out to compliance_services@thelarkincompany.com.
