UI Trust Fund Accounts

GAO Report Shows $22 billion of Recovery Funds used to Restore UI Trust Funds

By |2023-10-12T17:58:40+00:00October 12th, 2023|Categories: Unemployment Insurance|Tags: , , |

On October 11, 2023, the Government Accountability Office (GAO) released a report reviewing how State and Local Fiscal Recovery Fuds (SLFRF) were spent and/or obligated. See GAO-24-106753, COVID-19 Relief: States’ and Localities’ Fiscal Recovery Funds Spending as of March 31, 2023 The report shows spending as of March 31st, noting that Contributions to state unemployment insurance trust funds [...]

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States Should Consider Using Coronavirus Relief Funds to Improve UI Solvency

By |2020-09-18T03:33:57+00:00September 18th, 2020|Categories: Unemployment Insurance|Tags: , , , , |

The COVID-19 recession has significantly impacted the solvency of state UI Trust Fund Accounts. A snapshot of the status of accounts as of September 16, 2020 shows that 21 states have already requested authorization to obtain loans from the Federal Unemployment Account because state unemployment trust fund balances have been or will be exhausted. (see below) [...]

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