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Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: There are no interest earnings on funds withdrawn from the State account, the fund is interest-neutral. For transfers 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in section 6.2 and result in a positive balance of funds in a State account, the States liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro- rata share less the related banking costs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.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
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Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: There are no interest earnings on funds withdrawn from the State account, the fund is interest-neutral. For transfers 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in section 6.2 and result in a positive balance of funds in a State account, the States liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings of the benefit payment account on the pro- pro-rata share less the related banking costs attributed to such funds.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
