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Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: When the Funding Techniques are properly used, there should be no interest earnings on funds withdrawn from the State account, as the State has implemented Actual Clearance, ZBA -ACH and Actual Drawdown - Weekly for paper checks, which are interest-neutral funding techniques, for such transfers. For UTF transfers 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section 6.2 and result in a positive balance of funds in a State account, the State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro-rata share less the related banking costs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.

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Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: When the Funding Techniques are Technique is properly used, there should be no interest earnings on funds withdrawn from the State account, as the State has implemented Actual Clearance, ZBA -ACH and Actual Drawdown Same Day Payment - Weekly for paper checksDebit Cards, which are an interest-neutral funding techniquestechnique, for such transfers. For transfers UTF transfers 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section 6.2 and result in a positive balance of funds in a State account, the State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro-rata share less the related banking costs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.