What's New? NY Adverse Claims Wage Exemption Amount

Under New York’s Exempt Income Protection Act (“EIPA”), certain funds in deposit accounts are exempt from most restraining notices and levies. One exemption under the EIPA is for an amount deemed to be protected wages, with the amount of such exemption tied to the minimum wage. As a result of an increase in the New York State minimum wage that takes effect on January 1, 2025, the amount of the wage exemption under the EIPA will increase as of that date.

Read more in The Gold Book:

New York EIPA Wage Exemptions

New York Minimum Wage

What's New? NYS Exemption for Restraining Notices and Levies Increased

Under New York’s Exempt Income Protection Act (“EIPA”), certain funds in deposit accounts are exempt from most restraining notices and levies. One exemption under the EIPA is for the direct deposit or electronic payment of certain statutorily exempt funds (such as social security) into a deposit account, with the amount of the exemption adjusted every three years based on inflation. That amount has increased to $3,425 as of April 1, 2024. See Exemptions to Adverse Claims, New York Rules in The Gold Book for further details.

What's New? Increase to NYS Wage Exemption Amount for Restraining Notices and Levies

The New York Exempt Income Protection Act (“EIPA”), effective January 1, 2009, amended Article 52 of the New York Civil Practice Law and Rules (“CPLR”) to limit the ability of judgment creditors and others to restrain Social Security and other exempt funds. 

Beginning April 1, 2012, the Superintendent of the Department of Financial Services is required, and at each three year interval thereafter, to update the current dollar amount of exemption from enforcement of judgments under New York Civil Practice Law.

Because the New York State minimum wage is increasing from $8.75 to $9.00 an hour as of December 31, 2015, the amount of the wage exemption under the EIPA is increasing from $2,100 to $2,160 as of that date.

Read more in The Gold Book under Exemptions.