The State of New York has provided final guidance regarding the Paid Family Leave rate, which means employers have all the information they need to plan for payroll withholding in 2018. But many companies are looking for more help in planning for PFL. Specificaly, how can my organization estimate how much annual premium we'll need to pay?
To use the estimator, simply enter the following:
- The number of employees who make less than the statewide average wage ($67,907.84)
- The sum of the annual wages of all employees making less than the statewide average
- The number of employees who make greater than the statewide average wage
Note: The tool only provides an estimate of expected premiums, and it does not calculate the actual premium. Fluctuations in your employee population and their salaries will adjust your actual premium due.
Responses provided through this tool are for general information and education purposes only and should not be construed or relied upon as legal, tax or financial advice. For such advice, please seek appropriate professional counsel. The Standard Life Insurance Company of New York expressly disclaims all liability relating to anything done or not done in reliance upon information provided through this tool. This tool may only be used for calculation for 2018 as the state will be adjusting the rate and statewide average wage annually.