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>According to the current text of the Pennsylvania bill, “The initial premium rate shall be 0.58% of the individual's wages” and payroll deductions would begin
by hnburnsy 4y ago
>According to the current text of the Pennsylvania bill, “The initial premium rate shall be 0.58% of the individual's wages” and payroll deductions would begin on Jan. 1. The New York Long Term Care Trust Act (Senate Bill 9082), sponsored by two Democratic state senators, would establish a state long-term care trust program to provide a public benefit available to all New York workers for long-term care services and support, financed by a payroll withholding tax. The current bill stipulates that the tax rate would be set by the state’s comptroller at “the lowest amount necessary to maintain the actuarial solvency” of the plan, with payroll deductions to begin two years after the law is enacted.
>Both bills appear modeled on Washington’s first-of-its-kind program, enacted in 2019, which will begin collecting a payroll tax of 0.58% to create a mandatory long-term-care plan for Washingtonians in July 2023.