The latest quarterly Unemployment Insurance Trust Fund Report released by the Department of Unemployment Insurance warns of dire consequences if the state fails to act. Projections of the UI Trust Fund becoming insolvent were accelerated from 2028 to the last quarter of 2027.

Due to a rising unemployment rate, modeling projects the fund will have a -$134 million balance at the end of 2027, then the deficit grows to -$370 million in 2028, and -$568 million in 2029. This will trigger additional rate hikes on employers, as the rate schedule jumps to G, and could result in additional borrowing to make the fund solvent. This is all in addition to nearly $5 billion in Covid related debt business owners are currently repaying.

NFIB has suggested to lawmakers that meaningful UI reforms are necessary to rein-in our out-of-control UI system.  Our suggestions include:

• Freezing our 2^nd highest in the nation maximum benefit ($,1051/wk)
• Ending the 30 week duration trigger (MA is the ONLY state with 30 weeks)
• Strengthening eligibility requirements by requiring a time work test (at least 2 quarters to set an attachment to the workforce)
• Using state dollars to shore up the trust fund like NY state that recently provided nearly $7 billion to help provide relief for employers and UI recipients.

We will provide additional updates as information becomes available and urge you to contact lawmakers using our latest UI issue alert:

>>>>> Tell Your Sate Lawmakers to Fix the Unemployment Insurance DISASTER