DB Standard Premium Rates

DB Premium Rates for Employers

Employers can elect to pay the total cost of DB premiums or share those costs with employees through payroll deductions. 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.

Paid Family Leave Premium Rates

The premium for Paid Family Leave is fully funded by employees through after-tax payroll deductions. Since PFL is provided only as a mandatory rider on DB policies, the premium for PFL 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 2023, per the Department of Financial Services, the PFL payroll contribution rate will be 0.455% of an employee's weekly wage and is capped at an annual maximum of $399.43. Employees earning less than the New York State Average Weekly Wage ($1,688.19 per week) will have an annual contribution amount less than the cap of $399.43, consistent with their actual weekly wages.

Use Our Premium Calculator

To help you estimate the cost of DB insurance as well as the cost of PFL, use our helpful online Premium Calculator. When providing information on employee wages, make sure to include tips, board, housing or other measurable compensation received from employment.

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