• Connecticut Unemployment Insurance Special Assessments Mailed in August

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Connecticut’s Unemployment Trust Fund became insolvent on October 13, 2009. To continue paying UI benefits to unemployed workers, as required by law, Connecticut began borrowing funds from the U.S. Department of Labor. Connecticut, along with more than 20 other states, was required to pay interest on these loans from January 2011. In Connecticut, the statutory mechanism to collect these interest payments is via an annual special assessment billed to the state’s employers on August 1 and due on August 31. The state's current loan balance has been reduced to $630 million. The interest rate on trust fund loans for 2012 has also been lowered to 2.9430% as opposed to 4.0869% for last year. So this year’s assessment totaled approximately $23 million; $1.30 per thousand dollars of taxable payroll, or about $19.50 per full time employee. For example, an employer with 10 workers received an August 2012 assessment of about $195. Source: CTDOL

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