| Direct Reimbursing Formula to Calculate Maximum Potential Reimbursement Payment Due |
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For Unemployment Insurance Claims filed between 10/1/09 and 12/31/09
1. Multiply the number of employees who will file a UI Claim and were paid $39,440.00 or more from 7/1/08 through 06/30/09 by 12818. (X of employees multiplied by 12818 =?)
2. Multiply the amount of wages paid to employees who will file a UI Claim that is less than $39,440.00 but more than $9,280.00 from 7/1/08 through 06/30/09 by .325. (X amount of wages multiplied by .325 =?)
3. Multiply the number of employees who will file a UI Claim and were paid $9,280.00 or less from 7/1/08 through 06/30/09 by 2990. (X of employees multiplied by 2990 =?)
Add the answers to step 1, 2 and 3 to determine the maximum potential reimbursement payment due. (Answer 1 + Answer 2 + Answer 3 = maximum potential reimbursement payment due)
Maximum potential reimbursement payment is due in 2009-11 biennium
Example of Direct Reimbursing Formula
1. 2 employees were paid more than $39440.00 from 7/1/08 to 06/30/09. (2 * 12818 = 25,636)
2. There were $50,000.00 in wages paid to employees less than $39,440 but more than $9,280.00 from 7/1/08 to 06/30/09. (50,000 * .325 = 16,250)
3. 3 employees were paid less than $9,280.00 from 7/1/08 to 06/30/09. (3 * 2990 = 8,970)
Maximum potential reimbursement payment due is the sum of the answers to 1, 2 and 3 above. (25,636 + 16,250 + 8,970 = $50,856.00 due in 2009-11 )
Interactive Direct Reimbursing Formula
Interactive Formula
Disclaimers
As of July 1, 2009 SB 462 becomes effective, allowing UI claimants to qualify for a claim with an alternate base year. The Direct Reimbursing Formula to Calculate Maximum Potential Reimbursement Payment Due may not accurately calculate the maximum potential reimbursement payment due if claims using the alternate base year are involved.
This formula does not apply to taxpaying employers or employers participating in the LGEBTF reporting option.
This formula is valid only for claims filed between 10/1/09 to 12/31/09.
The amount generated by this formula is the maximum potential liability for reimbursing employers.
This formula will be invalidated by any statutory changes in the state average weekly covered wage, benefit base period, minimum or maximum weekly benefit amounts.
This formula applies to regular unemployment insurance claims only and does not apply to any extended benefits programs. The earliest possible reimbursements for extended benefits programs will be due in 2010.
Claims paid between 10/1/09 and 12/31/09 will be billed to agencies in January 2010 with payment due by 02/28/10.
This formula is not a guarantee of benefits paid or reimbursements owed. This formula is intended for planning purposes only.
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