As the season changes to fall soon, we’re getting ready for what New York Paid Family Leave will look like next year. On August 31, 2021, the Department of Financial Services announced that the premium rate itself for Paid Family Leave (PFL) won’t change, i.e. it will remain at this year’s 0.511% of PFL covered wages in 2022.
However, the annualized New York State Average Weekly Wage (NYSAWW), which is the other component of the maximum PFL contribution, did get updated earlier this year. It will be capped at $82,917.64 for calendar year 2022 (learn more here about the NYSAWW). This means, that the updated maximum contribution will be $423.71 per employee for 2022, up from $385.34.
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The release of the NY PFL rate marks the beginning of the statutory benefits updates season! New Jersey and Massachusetts will each announce their new rate for 2022 later this fall, so stay tuned for other news announcements from us! Subscribe here.
*NY Department of Labor releases the updated NYSAWW on or about every March 31.
This blog post is for informational purposes only and is not intended to provide legal counsel. Please consult with an appropriate professional for legal and compliance advice. Any PFL information is as of the blog post’s date stamp; it is based on the applicable statutes and regulations, and may change as regulations evolve or NY State issues guidance regarding Paid Family Leave regulations.