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The New York Disability Benefits Law (DBL) is article 9 of the Workers' Compensation Law (which is itself chapter 67 of the Consolidated Laws of New York) and creates a state disability insurance program designed to provide employees with some level of income replacement in case of disability caused off-the-job.
Long-term disability insurance can replace lost income if an injury or illness prevents you from working for an extended period of time. Employers can offer long-term disability insurance through ...
Coverage is typically issued supplemental to standard coverage. With high-limit disability insurance, benefits can be anywhere from an additional $2,000 to $100,000 per month. Single policy issue and participation (individual or group long-term disability) coverage has gone up to $30,000 with some hospitals.
On August 20, 1997, Governor Pataki signed the Welfare Reform Act of 1997 that, in relevant part, renamed it as the Department of Family Assistance, and also divided the department into Office of Temporary and Disability Assistance (OTDA) and the State Office of Children and Family Services (OCFS).
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So, for example, if a company declared a 25% profit sharing contribution, any employee making less than $230,000 could deposit the entire amount of their profit sharing check (up to $57,500, 25% of $230,000) in their ERISA-qualifying account. For the company CEO making $1,000,000/year, $57,500 would be less than 1/4 of his $250,000 profit ...
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