Washington Paid Family Leave Premium Rate Decreases in 2024

Washington Paid Family Leave Premium Rate Decreases in 2024

The recently issued press release from the Employment Security Department indicates that premium rates will decrease in 2024.

As a reminder, the state of Washington enacted a Paid Family and Medical Leave (PFML) law in 2017. The PFML law provides up to 12 weeks of medical or family leave for one’s own illness, baby bonding, to care for a family member, or military exigency. For a summary, see our prior Benefit Beat article here.

Effective January 1, 2024, the premium rate for PFML will decrease to 0.74% (from 0.8% in 2023) of each employee’s gross wages up to the Social Security cap of $168,600 for 2024 ($160,200 for 2023).

Employers with 50 or more employees working in the state of Washington will pay 28.57% of the 0.74% premium and employees will pay 71.43%.

Employers with fewer than 50 employees are not required to pay the employer portion of the premium, however, the employee premium must still be collected.


The information contained in this Benefit Beat is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations. This information is provided as general guidance and may be affected by changes in law or regulation. This information is not intended to replace or substitute for accounting or other professional advice. You must consult your own attorney or tax advisor for assistance in specific situations. This information is provided as-is, with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.

Washington Paid Family Leave Premium Rate Decreases in 2024https://www.cbiz.com/Portals/0/Images/Washington Paid Family Leave.jpg?ver=yb_K1ES5byAWXLwyoUCYUg%3d%3dIn a recently issued press release, the Employment Security Department indicates that premium rates will slightly decrease in 2024 to 0.74% from 0.8% in 2023.2023-11-08T20:00:00-05:00In a recently issued pressrelease, the Employment Security Department indicates that premium rates willslightly decrease in 2024 to 0.74% from 0.8% in 2023.Regulatory, Compliance, & LegislativeEmployee Benefits ComplianceNo