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Wednesday, September 17, 2014
ENP STAFF REPORTS
news@eastniagarapost.com
ALBANY — New York State unemployment benefit rates are set to increase next month.
The maximum and minimum rates for weekly Unemployment Insurance benefits will increase on Oct. 6; The minimum rate will increase from $64 to $100 and the maximum rate will increase from $405 to $420.
“This state’s Unemployment Insurance system has been broken for far too long – starving deserving New Yorkers of sufficient benefits and saddling businesses with billions of dollars of debt,” Gov. Andrew Cuomo said today. “The rate increase that resulted from our reforms that provide a boost to job-seeking New Yorkers and grant relief to businesses so they can focus on job creation and growth.”
State Labor Commissioner Peter M. Rivera said, “This legislation was created as a forward-thinking, permanent solution to benefit both employers and claimants. Unemployment Insurance Reform provides for a self-correcting financing system ensuring more predictable and equitable costs for businesses and benefits claimants by raising benefit rates and helping them get back to work sooner.”
A claimant’s weekly benefit rate is determined by a formula that takes into account what that person earned from recent employers. After they file a claim, they are notified of their rate by a Monetary Benefit Determination. Claimants eligible to receive the benefit increase will receive a separate notice from the Department of Labor. Under Unemployment Insurance reform, the maximum benefit rate for claimants will increase annually until it reaches 50 percent of the average weekly wage in New York State. The minimum will remain at $100.
More information about Unemployment Insurance and a comprehensive list of changes is available here, and the methodology of rate calculation is available here.
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news@eastniagarapost.com
The maximum and minimum rates for weekly Unemployment Insurance benefits will increase on Oct. 6; The minimum rate will increase from $64 to $100 and the maximum rate will increase from $405 to $420.
“This state’s Unemployment Insurance system has been broken for far too long – starving deserving New Yorkers of sufficient benefits and saddling businesses with billions of dollars of debt,” Gov. Andrew Cuomo said today. “The rate increase that resulted from our reforms that provide a boost to job-seeking New Yorkers and grant relief to businesses so they can focus on job creation and growth.”
State Labor Commissioner Peter M. Rivera said, “This legislation was created as a forward-thinking, permanent solution to benefit both employers and claimants. Unemployment Insurance Reform provides for a self-correcting financing system ensuring more predictable and equitable costs for businesses and benefits claimants by raising benefit rates and helping them get back to work sooner.”
A claimant’s weekly benefit rate is determined by a formula that takes into account what that person earned from recent employers. After they file a claim, they are notified of their rate by a Monetary Benefit Determination. Claimants eligible to receive the benefit increase will receive a separate notice from the Department of Labor. Under Unemployment Insurance reform, the maximum benefit rate for claimants will increase annually until it reaches 50 percent of the average weekly wage in New York State. The minimum will remain at $100.
More information about Unemployment Insurance and a comprehensive list of changes is available here, and the methodology of rate calculation is available here.
Send an email to news@eastniagarapost.com with "email update" in the subject line.
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