New York disability benefits law and paid family leave
State disability insurance (SDI) is short-term disability coverage that is legislated by this state. If you have employees working in New York, the state may require that employers provide SDI coverage for employees.
Key features of New York Disability Benefits Law (DBL)
|
Coverage options |
State plan, self-insured or through an approved insurance carrier |
|---|---|
|
Funding |
Shared by employer and employees |
|
Elimination period |
7 days |
|
Benefit |
50% of average weekly wage |
|
Maximum benefit |
$170 per week |
|
Benefit duration |
26 weeks |
Key features of New York Paid Family Leave (PFL)
|
Coverage options |
Self-insured or through an approved insurance carrier |
|---|---|
|
Funding |
0.373% of employee wages up to state’s average weekly wage (2024) |
|
Elimination period |
0 days |
|
Benefit |
60% of average weekly wage |
|
Maximum benefit |
$1,151.16 per week (in 2024) |
|
Benefit duration |
10 weeks |
Principal® has a solution
Principal teams up with ShelterPoint Life to offer New York Disability Benefits Law coverage to employers with New York employees. To be eligible, employers must offer group short-term disability, long-term disability, or term life coverage from Principal.
Want to learn more?
Talk to your financial professional to design a benefit offering that meets the specific needs of your business and employees.