Work Comp Help Requires Solvency

WASHINGTON (CN) - The Department of Labor plans to require that any states receiving interest-free advances from the federal government to pay for unemployment compensation first must meet "funding goals" set out by the Labor Secretary.

The rule would require that states: Meet a solvency criterion in one of the five calendar years before the year in which advances are taken; and meet two tax effort criteria for each calendar year after the solvency criterion is met, up to the year in which an advance is requested.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit