Paid Family Leave 2020 Rates Announced
The New York State Department of Financial Services (“DFS”) Superintendent revealed the new Paid Family Leave (“PFL”) benefit and employee contribution rates on Friday August 30. By law, those on PFL will receive up to 60% of the New York State average weekly wage (which the DFS set at $1,401.17 for 2020), for the up-to-10 weeks of PFL taken during the year. Accordingly, most employees who take PFL in 2020 will receive $840.70 per week, up about $100 from 2019, and it will be interesting to see if more employees seek to take it. The employee contribution for PFL will be .270% of wages per pay period in 2020, up to a maximum of $196.72 for the year.