DFS Increases Premium Rate for Paid Family Leave
The New York State Department of Financial Services (DFS) has increased the employee payroll contribution rate for Paid Family Leave (PFL). For 2021, the rate is 0.511% of an employee’s wages each pay period, capped at an annual maximum of $385.34.
As a result, NYSIF Disability Benefits policyholders may see an increase in PFL estimated premium when your policy renews in 2021, reflecting the higher amount you are responsible for collecting from employees to cover the cost of the program.
For more information, see the DFS announcement. New York State also offers several employer resources to help you understand and communicate 2021 PFL updates to your employees.
Updated Forms to Apply for DB/PFL Coverage
If you would like to apply for DB/PFL coverage or add farm coverage to your DB/PFL policy, the following new forms reflect the rate increase:
UDB-36 Application for NYSIF Disability Benefits & Paid Family Leave Insurance
UDB-Farm Adding Coverage Under New Farm Labor Law (See For Employers of Farm Workers for more information.)
The forms, which you can file online or mail to NYSIF, are available at nysif.com on our Forms page under Disability Benefits & PFL Underwriting Forms – Employer or Rep.