As we head into Labor Day weekend, which unofficially signals the end of the summer, it’s also the time when the New York Department of Financial Services (DFS) announces the Paid Family Leave (PFL) rate and maximum PFL employee contribution for the upcoming year.
What is the New York Paid Family Leave Rate for 2025?
On Friday, August 30, 2024, the New York Department of Financial Services (DFS) announced that the maximum contribution rate for Paid Family Leave for 2025 will change from 0.373% to 0.388% of an employee’s gross annualized wages, capped at $91,373.88*, which is the updated annualized New York State Average Weekly Wage for 2025 (learn more about the NYSAWW here).
This translates to a maximum annual premium contribution of $354.53 that an employer can withhold for NY PFL per employee – up from $333.25 this year.
Where can I find the 2025 NY Paid Family Leave official announcement?
The official announcement from DFS can be found here.
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*Usually released on or about March 31 each year
This material is for informational purposes only; it is not intended to provide legal counsel or advice. Please consult with an appropriate professional for legal, compliance, HR, tax, or any other specific advice.
Any Paid Family Leave (PFL) information is based on the applicable statutes and regulations, and may change as regulations evolve or NY State issues guidance regarding PFL law and regulations. In the event of conflicting information with the policy and/or rider(s), the policy and/or rider(s) will take precedence over what is shown in this material. Policies are governed by Article 9 of the New York Workers’ Compensation Law (New York Disability Benefits and Paid Family Leave Benefits Law). All DBL/PFL policies are New York-only products and are underwritten by ShelterPoint Life Insurance Company, a NY-domiciled carrier (principal office: Garden City, NY).