NY Paid Family Leave
New York State is mandating employers offer a new benefit effective Jan 1, 2018. Here is a synopsis of the benefit and cost.
Product: Paid Family Leave, PFL.
What Is It: Job protected paid leave and monetary benefit for employees who ;
- bond with newborns,
- care for a seriously ill family member,
- or address important family needs while family member providing military service.
Who is eligible:
- Full Time employees employed for at least 26 weeks
- Part Time employees employed for 175 days
Maximum Duration: 8 weeks
What’s The Benefit:
- 2018 50% of employees average weekly wage (AWW), not to exceed 50% of statewide AWW, up to 8 weeks.
- 2019 55% of employees AWW, not to exceed 55% of statewide AWW, up to 10 weeks.
- 2020 60% of employees AWW, not to exceed 60% of statewide AWW, up to 10 weeks.
- Thereafter each Jan 1 67% of employees AWW, not to exceed 67% of statewide AWW, up to 12 weeks.
What’s The Rate: It’s a single tier as a percent of salary
.126% of employees weekly wage
Participation: Mandatory for employees
How Funded: By employees through payroll deduction. Employers are not required to fund any portion of the PFL cost, however they can contribute if they choose to. Employers remit premium to the carrier.
The carriers have until 8/1/17 to decide if they will offer the coverage.
The forms are getting prepared by the carriers.
Call or write us with any questions or to quote Paid family leave for your business.