TN General Assembly Reduces Unemployment Benefit Provisions To Strengthen Trust Fund

Friday, June 21, 2013

Since June 2010, eligible unemployment insurance claimants supporting minor children have been receiving $15 per child, to a maximum of $50, as a dependent allowance added to their weekly unemployment benefit amount. Those dependent allowance payments will end soon as a result of legislation signed by Governor Haslam that becomes effective July 1.

 

In 2009 Tennessee received one-time federal funds in the amount of $141,808,031 as an incentive grant under the American Recovery and Reinvestment Act to strengthen the rapidly depleting Trust Fund and continue providing unemployment insurance payments, including the dependent benefit.

Those provisions were enacted as permanent law that could only be discontinued by repeal by the Tennessee General Assembly.

 

“This action taken by the legislature is another step that will increase savings to the Unemployment Insurance Trust Fund. The healthier the Trust Fund, the lower the tax table that determines premium rates for Tennessee employers,” said Labor & Workforce Development Commissioner Burns Phillips. “The Trust Fund balance is currently $799 million and is on a positive path to maintain solvency and stability in the event of another recession. Tennessee, unlike 22 states in the nation, has no outstanding loan from the Federal Unemployment Account.”

 

For claimants currently receiving unemployment, the last payable week to receive dependent benefits will be the week that ends June 29. Claimants filing new claims for unemployment benefits on June 30 may be eligible to receive only one week of dependency benefits – for the week that ends July 6; any unemployment payments for weeks ending after that date will not include dependent allowances.

 

Other provisions included in the legislative repeal affecting claimant eligibility are these:

·After June 29, Tennessee will no longer use the Alternate Base Period to establish unemployment claims for claimants who did not earn enough in wages to establish a claim using the traditional base period.

 

·Beginning with the week that ends July 6, claimants will be ineligible for benefits for weeks in which they seek, apply for, or accept only part-time work instead of full-time work if their employment has been customarily full-time.

 

The Department of Labor & Workforce Development will notify affected claimants when they conduct their weekly certification to continue their benefits.


Compass Auctions To Auction Custom Motorcycle

Compass Auctions and Real Estate announced that the Auction Firm has been selected to host both the online and live auction of a one-off custom KTM 450 in cooperation with RedBull Media House to benefit the Kurt Caselli Foundation.  “This is a once in a lifetime opportunity to own a unique piece of history,” said Steven Holt, vice president of Compass. “It ... (click for more)

LBMC Gains Bryan Mattice

LBMC, PC, one of the Southeast’s largest accounting and business consulting firms, has added Bryan Mattice to the Accounting and Assurance services team. Bryan Mattice, CPA,   serves as a staff accountant serving a variety of industry clients in the Accounting and Assurance service team. Mr. Mattice comes to LBMC from BlueCross BlueShield of Tennessee where he worked ... (click for more)

Two North Shore Sold To Pennsylvania Real Estate Firm For Almost $24 Million

The Two North Shore commercial development on Manufacturers Road in North Chattanooga has been sold to a Pennsylvania real estate firm for  $23,983,363. Steve Arnsdorff, who developed the successful center from the ground up and has continued to manage it, said the deal closed last week. He said the sale for the property at 319 Manufacturers Road is to Stoltz Real Estate ... (click for more)

Lookout Valley Middle High School Closed Friday Due To Water Main Break

County school officials said late Thursday night that LookoutValley Middle High School will be closed Friday due to a water main break. Officials said, "This is an official message from the Hamilton County Department of Education to the parents, faculty, and staff of Lookout Valley Middle High School.  Please accept our apologies for the lateness of this message. "Due ... (click for more)

Thanks For Publishing The Stokes Photo Book

I pre-ordered the Stokes Photo Book and picked it up Wednesday . The covers and content are very high quality and contain photos you will not see anywhere else.  This book of photos is worth much more than $35.  I have seen many historic photos of my hometown Chattanooga, but this collection is amazing. My favorites are National Cemetery, Confederate Cemetery near ... (click for more)

Roy Exum: Saban: ‘Ratings Don’t Matter’

When the first College Football Playoff rankings were released earlier this week, Alabama football coach Nick Saban got it right on the button when he shrugged, “I don't even care, to be honest with you." "To me, none of it matters, What does it matter?” he laughed at the Tide’s No. 6 ranking. “I mean, it only matters where you end up at the end. So what matters to us is how ... (click for more)