The New York Department of Financial Services (DFS) has announced that the Paid Family Leave (PFL) contribution rate for 2024 will be 0.373% of an employee’s gross wages per pay period (down from 0.455% in 2023), capped at an annual maximum of $333.25 (down from $399.43 in 2023). The New York State Average Weekly Wage (NYSAWW) is $1,718.15 (up from $1,688.19 in 2023), and the maximum weekly benefit will be $1,151.16 (up from $1,131.08 in 2023).
Employers are required to withhold the PFL contribution from their employees’ paychecks or may choose to pay for the PFL benefit on behalf of their employees.
Next Steps
Employers should be aware of the changes to the PFL contribution rate for 2024 and update their payroll systems accordingly. It is also recommended that employers notify employees before withholding any contributions. A Notice of Employee Payroll Deduction is available from the state.
Employers are also required to post PFL-120 (Notice of Compliance) in a prominent location within the workplace. The Notice must be obtained from the insurance carrier. New York employers are also required to make required notices/posters available electronically.
