On March 31, 2011, Illinois enacted House Bill 1030 to pay interest on the outstanding federal UI loans. As of April 4, 2011 the Illinois Department of Employment Security (IDES) had secured $2.9 billion in outstanding federal loans to shore up the Illinois Unemployment Trust Fund. This legislation provides for a surcharge to pay for [...]
Service Bulletins
Connecticut to Assess Employers for Interest Due on Federal UI Loans
April 7th, 2011
On October 13, 2009 the Connecticut UI Trust fund became insolvent, forcing the Connecticut Department of Labor to secure federal loans to cover the rising costs of unemployment. As of April 1, 2011, Connecticut still has $710,439,867.88 in outstanding federal loans. Unless the Federal government passes a bill that will extend the freeze on the [...]