Common use of The Unemployment Trust Fund Clause in Contracts

The Unemployment Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: Federal and State Funds are Interest Neutral: There are no interest earnings on funds withdrawn from the State account, as the State has implemented estimated clearance, an interest- neutral funding technique, for such transfers. For transfers of funds from the State and Federal accounts in the UTF that do not follow the technique specified in section 6.2 and result in a positive balance of funds in a State account, the State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro-rata share less the related banking costs attributed to such funds. For Federal funds withdrawn from the UTF and result in a positive balance in a State account, the State shall multiply the amount of Federal funds withdrawn by the daily rate equal to the average equivalent yields of 13-week Treasury bill auctioned during the State's fiscal year. The result is multiplied times the number of days ahead of the average day of clearance the Federal funds were deposited in a State account. This amount shall constitute the State's interest liability to be remitted back to the Federal government.

The Unemployment Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: Federal and State Funds are Interest Neutral: There are no interest earnings on funds withdrawn from the State account, as the State has implemented estimated clearance, an interest- interest-neutral funding technique, for such transfers. For transfers of funds from the State and Federal accounts in the UTF that do not follow the technique specified in section 6.2 and result in a positive balance of funds in a State account, the State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro-rata share less the related banking costs attributed to such funds. For Federal funds withdrawn from the UTF and result in a positive balance in a State account, the State shall multiply the amount of Federal funds withdrawn by the daily rate equal to the average equivalent yields of 13-week Treasury bill auctioned during the State's fiscal year. The result is multiplied times the number of days ahead of the average day of clearance the Federal funds were deposited in a State account. This amount shall constitute the State's interest liability to be remitted back to the Federal government.

The Unemployment Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: Federal and State Funds are Interest Neutral: There are no interest earnings on funds withdrawn from the State account, as the State has implemented estimated clearance, an interest- neutral funding technique, for such transfers. For transfers of funds from the State and Federal accounts in the UTF that do not follow the technique specified in section 6.2 and result in a positive balance of funds in a State account, the State's States liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro-rata share less the related banking costs attributed to such funds. For Federal funds withdrawn from the UTF and result in a positive balance in a State account, the State shall multiply the amount of Federal funds withdrawn by the daily rate equal to the average equivalent yields of 13-week Treasury bill xxxx auctioned during the State's fiscal year. The result is multiplied times the number of days ahead of the average day of clearance the Federal funds were deposited in a State account. This amount shall constitute the State's interest liability to be remitted back to the Federal government.

The Unemployment Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: Federal and State Funds are Interest Neutral: There are no interest earnings on funds withdrawn from the State account, as the State has implemented estimated clearance, an interest- neutral funding technique, for such transfers. For transfers of funds from the State and Federal accounts in the UTF that do not follow the technique specified in section 6.2 and result in a positive balance of funds in a State account, the State's States liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro-rata share less the related banking costs attributed to such funds. For Federal funds withdrawn from the UTF and result in a positive balance in a State account, the State shall multiply the amount of Federal funds withdrawn by the daily rate equal to the average equivalent yields of 13-week Treasury bill auctioned during the State's fiscal year. The result is multiplied times the number of days ahead of the average day of clearance the Federal funds were deposited in a State account. This amount shall constitute the State's interest liability to be remitted back to the Federal government.

The Unemployment Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: Federal and State Funds are Interest Neutral: There are no interest earnings on funds withdrawn from the State account, as the State has implemented estimated clearance, an interest- neutral funding technique, for such transfers. For transfers of funds from the State and Federal accounts in the UTF that do not follow the technique specified in section 6.2 and result in a positive balance of funds in a State account, the State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro-rata share less the related banking costs attributed to such funds. For Federal funds withdrawn from the UTF and result in a positive balance in a State account, the State shall multiply the amount of Federal funds withdrawn by the daily rate equal to the average equivalent yields of 13-week Treasury bill xxxx auctioned during the State's fiscal year. The result is multiplied times the number of days ahead of the average day of clearance the Federal funds were deposited in a State account. This amount shall constitute the State's interest liability to be remitted back to the Federal government.