Quick Summary of NYS Paid Family Leave

NYS Paid Family LeaveThis coverage will automatically be added to your NYS Disability policy per NY statute effective 1/1/18. Basically it provides paid leave & holds their position open for employees who:

  • take a leave of absence to take care of an ill family member,
  • take a leave of absence related to child care- new baby, foster, or adoption,
  • take a leave of absence for military reasons.

Your billing will now have two sections: 1) for the current DBL coverage and is based upon male/female employee count, 2) for the new PFL and is based upon payroll of the employee and there is a cap.

To Simplify…

  • Since the PFL rate is 0.126% of wages, clients should have their payroll records handy, such as their NYS-45 or payroll system reports and then split their workforce into 2 groups – those above and those below a current gross wage of $67,097.84 (cap for premium calculation). Then take:
    • the count of employees whose pay exceeds the current annualized NYS AWW and
    • the total sum of all other covered employees with wages at or below this threshold.

As an employer, you can deduct 100% of the PFL premium from your employee’s paychecks. Your payroll company should assist you with the proper payroll deductions.

Your SZW Team

PS. Reminder: We’ve moved to 120 Lomond Court, Utica, NY 13502. Our phones, fax, email, and website remain the same.

SZW Insurance is your New Hartford area Trusted Choice™ independent insurance agent. Call us for a quote on insurance for your home, car, business, or life at 315.792.0000. Or request a quote here.

Posted on: December 11th, 2017 at 9:11pm by nkburns. Filed under: Uncategorized

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