For CY 2024 the State of NY has reduced the contribution rate factor by 18% to .373% from .455% in 2023. The second annual decrease in rate factor contributions since the enactment of the NY PFL regulations in 2018. 2024 rate contributions do not include any Covid-19 related surcharges which were eliminated in 2023 but were included in 2022 and 2021. Even though the employee contribution factor has decreased, the maximum taxable wage base (annual salary max) has increased. Overall, this is positive news for New York employees.
| PFL 2024 | PFL 2023 | PFL 2022 | |
| Premium Payment | 100% Employee Paid | 100% Employee Paid | 100% Employee Paid |
| Taxable Wage Base | $89,343.80 | $87,785.88 | $82,917.64 |
| Employee Rate Factor | .373% | .455% | .511% |
| Maximum Contribution | $333.25 | $399.43 | $423.71 |
| Weekly Benefit Maximum | 67% of average weekly wage up to $1,151.16 | $1,131.08 | $1,068.36 |
The Reuben Warner Advantage:
- State Mandated Disability experts dating back to the 1940s with the enactment of NY DBL.
- Maximum Standard Brokerage Commission at no cost impact to you or your clients – RWA compensated by the markets we represent as General Agent
- Multi-million-dollar position with various insurance carriers
- We provide support to you and your client in handling the marketing, implementation, on-going administration/ servicing, billing consultation, and renewal negotiations
- Availability for conference calls with clients