New York State has released the 2023 policy year information for Paid Family Leave coverage.
Please note the following changes to maximum benefit, maximum covered wages, premium rate and maximum employee contribution for PFL in 2023.
New Maximum PFL Benefit
The maximum PFL benefit in 2023 has remained unchanged at 67% of the employee's average weekly wage, not to exceed 67% of the statewide average weekly wage, which is $1,131.08 per week.
The maximum allowable duration of a PFL claim has remained unchanged at 12 weeks.
Maximum Covered Wages
The maximum covered wages for PFL contributions for 2023 have increased to $87,786.
All eligible employee wages, including commissions and bonuses,
up to $87,786 annually will be subject to premium charge.
Premium Rate / Maximum Employee Contribution
The PFL premium rate for 2023 has been decreased to 0.455% (.00455)
When?
All changes are effective January 1, 2023.
Who?
Keep in mind that PFL, like DBL, is a required statutory coverage.
All premium is paid through employee contributions.
Failure to provide PFL coverage is subject to penalty by New York State.
We have begun the process of updating our systems to accommodate this new information.
We feel confident that the transition into 2023 will be a smooth one.
Policy documents will be available during the 4th quarter of 2022.