The Alaskan Department of Labor has issued notifications to businesses throughout the state letting them know that they will be paying more for unemployment insurance next year. The new rates have yet to be reviewed by the state’s insurance regulators, but insurance companies claim that higher rates are necessary to ensure that the state’s unemployment trust fund remains solvent and that insurers themselves have to recover from high unemployment rates. Governor Sean Parnell argues that the rates are excessive, as the state’s trust fund holds more than $234 million and…
Read MoreTag: unemployment insurance benefits
Kentucky lawmakers scramble for special session to solve the looming unemployment insurance crisis
Kentucky’s Governor, Steve Beshear, is calling for a special session of the state’s Legislature. The move is prompted by Senate President David Williams, who says that the session is needed to find a solution for the state’s looming unemployment insurance problem. While the state has done well this fiscal year – puling in $121 million in surplus – there have been problems with the unemployment benefits budget. If lawmakers cannot fix the problem with the state’s unemployment insurance program, it could lose out on $640 million in federal tax credits.…
Read More