24 September 2020

New Jersey Temporary Disability 2021 Contribution Rates Released

Maximum Employee Contribution Rate, Employee and Employer Taxable Wage Base

New Jersey Temporary Disability 2021 Contribution Rates Released

Officially announced on September 24, 2020, by the NJ Department of Labor and Workforce Development, the 2021 employee contribution rate will be set at 0.47% of an employee’s taxable wage base; and the employee taxable wage base for 2021 will be $138,200.  This comes out to a maximum contribution for employees of $649.54 per year.

The 2021 taxable wage base for employers is $36,200.

Unlike the state plan, which provides employer and employee rates separately, ShelterPoint provides a total rate for its contributory plans, which is a combined rate of the employee contribution rate and employer contribution rate.  To determine the employer rate for a ShelterPoint plan, simply subtract the employee contribution rate from the total (combined) rate.

Temporary Disability Insurance Benefits will continue to be set at 85% of the covered employees average weekly wage (AWW) over 12 weeks in most cases, capped at $903/week as of January 1st, 2021.  Read more about NJ’s expanded benefits effective July 2020 here.

SIGN-UP now to stay up-to-date on all the latest TDI news!

 

 

This blog post is for informational purposes only and is not intended to provide legal counsel.

The information in this post is not intended as an offer of coverage (“Invitation to Contract”). It is for illustrative purposes only, providing a general overview of the services descred. It is not a contract. Available in NJ only.  ShelterPoint Life provides Temporary Disability Insurance private plans and does not provide Family Leave Insurance private plans.  The Temporary Disability Benefits (TDB) Law (Temporary Disability Benefits law (P.L.1948, c.110 (C:43-21-25 et seq.) governs this private plan and its interpretation and administration. All coverage extends up to TDB Law limits reflected in this policy. Please refer to the policy and TDB law for coverage details, a complete listing of covered services, provisions, conditions, exclusions, and terms under which the policy may be continued or cancelled. In the event of conflicting information with the policy and applicable TDB Law, the policy and TDB Law will take precedence over what is shown in this material.  Claim payment is not guaranteed; benefit amount depends on wages. Policies have a statutory 7-day waiting period.

Underwritten by:

ShelterPoint Life Insurance Company (principal office in Garden City, NY) in: NJ (form# TDB-P-NJ)

 Have more questions? Email us at tdiquestions@shelterpoint.com.

Print

Theme picker

«October 2020»
MonTueWedThuFriSatSun
2829301234
567891011
12131415161718
19202122232425
2627282930311
2345678

Copyright © 2020. All rights reserved. By entering our website and accessing its content, you agree to our Terms of Use.

All policies are administered by ShelterPoint Life and underwritten by either ShelterPoint Life Insurance Company, a NY-domiciled carrier, or ShelterPoint Insurance Company, a FL-domiciled carrier depending on the state. Contact Underwriting for details.
Not all products are available in all states and from each entity in the family of ShelterPoint companies. Click here to view availability by state.
For information about which company is licensed in your state, please visit our Geographic & Jurisdictional Notice.