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State Unemployment Trust Fund Balances
Posted on 7/27/20 at 3:44 pm
Posted on 7/27/20 at 3:44 pm
Thought this may be interesting to some of yall. The link goes to treasury direct which is the website that tracks the unemployment trust fund balances by State. Mississippi is down to 360 million from 704 million in March. You can click through all the different states to see how the different trust funds have fallen.
Unemployment Trust Fund Balances
Unemployment Trust Fund Balances
6
Posted on 7/27/20 at 4:15 pm to Jobo
California
March $2,189,704,247.15
July $163,673,733.23
March $2,189,704,247.15
July $163,673,733.23
Posted on 7/27/20 at 4:38 pm to Jobo
Yup. Gonna have to run the printing press for a few more hours.
Posted on 7/27/20 at 4:42 pm to Jobo
Unless I’m reading it wrong, Louisiana is in better shape than I expected.
Posted on 7/27/20 at 4:45 pm to TimeOutdoors
quote:shite, my wife moved to California?
California
March $2,189,704,247.15
July $163,673,733.23
Posted on 7/27/20 at 4:59 pm to whoa
quote:
Unless I’m reading it wrong, Louisiana is in better shape than I expected.
The state unemployment benefit is dismal. That serves to save money.
Posted on 7/28/20 at 11:02 am to Jobo
I find it very interesting that employees have had employers pay unemployment insurance on their behalf for over a decade and have only received it for 4 months and the system is almost broke. Not to mention the countless employers who paid unemployment insurance on employees who have never collected. Where’s that money?
I’ve been employed 20 years and never filed. Where’s that money?
I’ve been employed 20 years and never filed. Where’s that money?
Posted on 7/28/20 at 11:19 am to tigergirl10
quote:
I find it very interesting that employees have had employers pay unemployment insurance on their behalf for over a decade and have only received it for 4 months and the system is almost broke.
THIS
Posted on 7/28/20 at 12:41 pm to whoa
quote:
Unless I’m reading it wrong, Louisiana is in better shape than I expected.
Based on June/July figures, Louisiana's account balance is dropping by about $200M a month. Also says the state's account is in the mid-300s as of today.
So, there's about 90 days of cash left in the account for UI benefits. Probably get us through Labor Day and that's it.
But don't worry, the state will start taking out loans (or beg the Feds) to pay the unemployment benefits.
Buckle up everyone. Our taxes about to go up...in a recession!
Posted on 7/28/20 at 11:40 pm to Jobo
I’m a small business owner. For Q1 2020 my total payroll was $130,000. I have a 1.87% UI Tax Rate for the workforce commission. So I contributed $2431.00 to the fund for Q1 2020. This is an added expense as it is a state payroll tax not a federal payroll tax. What am
I looking at it if shite hits the fan based on the numbers I provided?
I looking at it if shite hits the fan based on the numbers I provided?
Posted on 7/28/20 at 11:45 pm to tigergirl10
The problem is they are just giving it to anyone who applies. Don’t do a single iota of vetting nor do they take employers counter claims to deny the benefit. I had an employee who was terminated because they showed gross negligence in food safety standards at our restaurant. Have text logs of her writing my manager that she doesn’t give a F about food safety or this n that. F the owners yada yada yada. I showed all this to the workforce commission, and they awarded her benefits on the grounds that she didn’t commit negligence she just disagreed with policy.
Posted on 7/29/20 at 7:48 am to Catchfalaya
quote:
What am
I looking at it if shite hits the fan based on the numbers I provided?
You’re looking at a 10% increase in taxes in the immediate future and a potential 30% solvency tax as soon as the fund dips below $100 mil.
This post was edited on 7/29/20 at 7:49 am
Posted on 7/29/20 at 4:02 pm to lsuconnman
So my new rate would be 10% of gross quarterly payroll? Holy shite
Posted on 7/29/20 at 4:42 pm to Jobo
My understanding is that states can take 0% interest loans from the federal government to meet UI needs. After the crisis states will raise taxes, reduce from 26wk UI to 24,20,16,etc., and/or lower benefits.
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