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Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: The State shall track daily (1) federal funds received, (2) actual disbursement amounts, and (3) the residual between (1) and (2). The interest liabilities will be based on the residual (3) of federal funds. Calculation Procedure: I = P x R x CT, where I = State' s total interest liability P = Total annual residual of federal funds R = Annualized rate equal to the average equivalent yields of 13-week Treasury bills auctioned during a State' s fiscal year divided by 365 days CT = Dollar-weighted average number of days residual of federal funds are held by State prior to disbursement.

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Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: The State shall track daily (1) federal funds received, (2) actual disbursement amounts, and (3) the residual between (1) and (2). The interest liabilities will be based on the residual (3) of federal funds. Calculation Procedure: I = P x R x CT, where I = State' s 's total interest liability P = Total annual residual of federal funds R = Annualized rate equal to the average equivalent yields of 13-week Treasury bills auctioned during a State' s 's fiscal year divided by 365 days CT = Dollar-weighted average number of days residual of federal funds are held by State prior to disbursement.