The New York State Department of Financial Services (DFS) has announced the updated NY Paid Family Leave (NY PFL) employee contribution rate for the year 2021.

Effective January 1, 2021:

The PFL employee contribution rate will increase from 0.270% to 0.511%.

The payable benefit % of an employee’s average weekly wage will increase from 60% to 67%.

The maximum weekly benefit amount will increase from $840.70 to $971.61.

The maximum length of paid leave will increase from 10 weeks to 12 weeks.

NY Paid Family Leave (PFL) Benefit Changes

Paid Family Leave provides eligible employees with up to 12 weeks of
paid time off to:

-Care for a newborn, an adopted child, or a fostered child.
-Take care of a family member with a serious health condition.
-Assist loved ones when a spouse, domestic partner, child, or parent is deployed abroad on active military service.

Not only does PFL provide financial support to employees while out of work, but it also provides job security, continued health insurance, and protects them from discrimination and retaliation from employers.

For more information or questions on this change, contact us at info@bondbenefits.com.