The Department of Financial Services (DFS) announced the NY PFL rate for 2020 as follows:
- The maximum contribution rate for PFL will be 0.27% of the employee’s gross annualized wages capped at the New York State Average Weekly Wage (NYSAWW) of $72,860.84 per year.
- This means the 2020 maximum annual contribution per employee for PFL is $196.72.
- The announcement has also confirmed an increase in maximum benefits for 2020 to 60% of the New York State Average Weekly Wage, up from 55% in 2019. The rate increase noted above takes into consideration this increase in benefits.
Click here for the official announcement from the DFS.