DB Standard Premium Rates

DB Premium Rates for Employers

An employer can decide to pay the complete DB premium or share costs with employees through payroll deduction. To help you make the best decision, NYSIF provides full transparency on our premium rates. We offer DB insurance at a gender-neutral standard rate of $0.14 per $100 of payroll, capped at $0.48 per person per week. Premiums are capped at $24.75 per person annually.

Employee Contributions for DB

New York State law allows employers to deduct 0.5% of an employee’s weekly wage, up to a maximum of $0.60 per week, for employees to contribute to DB premium costs.

Estimating Premium

Total annual capped wages (limited to $17,680 per employee) are estimated and multiplied by the standard rate. Employee wages include tips, board, housing or other measurable compensation received from employment. Our online wage calculator can help you estimate the price of your policy. Just click on the link below.

Paid Family Leave

The premium for Paid Family Leave is fully funded by employees through after-tax payroll deductions. Since PFL is only provided as a mandatory rider on DB policies, the premium is billed to policyholders on the same invoice.

Employee Contributions for PFL

The employee contribution rate for PFL is set by the New York State Department of Financial Services each year. For 2021, the PFL rate is 0.511% of an employee’s average weekly wage capped at an annual maximum of $385.34.

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