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.