518-373-4111
New York state has published paid family leave (PFL) updates for 2024 on its website for the program. The employee contribution rate will decrease, while the maximum weekly PFL benefit will increase due to an increase in the state average weekly wage.
Increase in Maximum PFL Weekly Benefit Cap
Employee compensation for PFL is 67% of the employee’s average weekly wage, up to a cap of 67% of the current New York state average weekly wage. The 2024 state average weekly wage has been calculated as $1,718.15, making the maximum weekly benefit $1,151.16. This is $20.08 more than the maximum weekly benefit for 2023.
Decrease in Employee PFL Contribution Rate
In 2024, employees will contribute 0.373% of their gross wages per pay period to the PFL program, down from 0.455% in 2023. The maximum annual contribution for 2024 is $333.25 ($66.18 less than in 2023).
New York Paid Family and Medical Leave
New York’s PFL law provides eligible employees with up to 12 weeks of PFL, funded entirely through employee paycheck deductions. PFL coverage is typically added as a rider on an employer’s existing disability insurance policy. Leave may be used for:
- Caring for a family member with a serious health condition;
- Birth, adoption, or fostering of a child;
- A spouse’s, domestic partner’s, child’s, or parent’s active military duty or impending active military duty; or
- Certain COVID-19-related reasons.
“Family member” is defined expansively and includes siblings.
© 2023 Zywave, Inc. All rights reserved.
Let GTM Manage Your New York Paid Family Leave
GTM Payroll Services offers New York paid family leave for our clients’ convenience. Our affiliate, GTM Insurance Agency, can help employers obtain PFL and other employer-provided insurance.
Obtaining paid family leave through GTM means you can integrate PFL insurance with your payroll and enjoy:
- Streamlined administration
- Simplified processes
- Centralized reporting
This integrated approach ensures accurate calculations, cost efficiency, and employee privacy. It enhances employee confidence, communication, and overall experience, promoting a supportive work environment.
Get a free quote today.
