Expansion of New Jersey Temporary Disability Benefits Law including 2020 rates and wage caps
January 1, 2020 and moving forward New Century Benefits will recommend to our clients that your payroll provider administer statutory disability with two separate rates and two separate wage caps to guarantee our employers do not feel any financial impact from the significant increase in benefits and the expansion of the definition of what qualifies as a disability.
We expect the New Jersey Department of Labor to update their website with 2020 deduction and wage cap information by October. We will adjust our information if the NJDOL makes any adjustments to the current projected changes in benefits and wage caps:
2020 NJ DI worker rate .26%/TW Base
2020 NJ Taxable Wage base (worker contribution) $134,900
2020 NJ Taxable Wage base (employer contribution) $35,300
1/1/20 weekly benefit maximum rate (salary % and benefit maximum) 66 2/3%- $667
7/1/20 weekly benefit maximum rate (salary % and benefit maximum) 85%-$881
2020 Base week amount $200.00
2020 Alternative earnings test amount $10,000
2020 minimum wage as of October 1, 2019 - $10.00
Our team will keep a close eye on 2020 to see how this impacts New Century Benefits New Jersey Temporary Disability private plan for all restaurants, hotels, retail, casinos, golf courses, bowling alleys, and staffing companies with employees working in NJ.
New Century Benefits NJTDB program is 100% direct to employers (no extra costs or commissions built in for NJTDB multi-level marketers) and is the only exclusive solution in New Jersey with a very large statistically significant client base made up entirely of similar employee demographics. We expect the new legislation will have a significant and positive impact on our plan for the entire NJRHA, Staffing Industry and Retail Merchants.
New Century Benefits is in the most advantageous actuarial position to deliver our clients long term reliable savings and service.
Our exclusive plan underwritten specifically for you and your employees will be in a position of power in 2020 and beyond allowing us to reduce employer expenses, provide greater increases in price stability, and deliver white glove claim service for your employees and staff.
If you chose to have the state plan administer disability claims for your employees and are not currently working with New Century Benefits it is more important now than ever before to transition prior to 1/1/2020. There is no longer a signature process from your employees and we provide a pre-filled application that our team will file on your behalf after we receive a signature on the document.