What’s New? Urgent! Vermont Live on SIDES

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Recently CCC received notification from one of our clients that they had a SIDES claim they needed CCC to process.  Unfortunately, there were several issues with the client’s request.

  1. Vermont had not notified the federal SIDES team they were going live and thus no unemployment TPAs were aware they needed to sign up to get claims directly for clients.
  2. The notice directed clients to use the DELAWARE account number. This was a very big typo!

SEE BELOW

“The State of Vermont Department of Labor has sent Separation Information Requests to you via the uiSIDES E-Response website. To respond to these requests, please go to:  http://uisides.org

To log in to the website, use your company’s FEIN and State of Delaware Account Number, as well as the following PIN: 6294”

If you are a CCC client, we are asking you to ignore any letters regarding Eresponse, received from the Vermont Department of Labor.  As your agent, CCC has a Power of Attorney in place, with CCC as Address of Record and therefore your organization should not be receiving claims directly.  CCC needs to receive these claims to insure they are processed in a timely manner.

If you inadvertently signed up directly to the SIDES program, you will need to contact the Vermont Department of Labor at (802) 828-4000 to let them know they would like to go back to paper claims as CCC is their TPA and they want claims to go directly to CCC via mail so we can process them through our system. If you require assistance, please contact your CCC Account Executive.

Now that CCC is aware of Vermont’s activation of the SIDES system, CCC will work with the program to begin getting Vermont claims via the system as we do with all other states that are currently active with the system. This should be completed shortly and we will notify employers once we are live and receiving Vermont claims through the SIDES system.

As always, as a CCC client, if you are receiving claims at your location(s), please t forward those claims to your CCC claims analyst.

Questions?  Contact CCC at info@corporatecostcontrol.com or (800)207-6926


Unemployment Tax Update: Ready for the Next Recession?

 

Although solvency has always been important, the Great Recession of 2008 pushed solvency measures to their max.    More than half the states requested Title XII advances creating a debt of over 41 billion dollars to pay benefits to claimants.   As of April, 2017, many states have outstanding debt from private loans secured to repay the debt.  California and Virgin Island remains on the list of having outstanding Title XII loan balances.  recession-economy-trading-investment-option-trading-gdp-inflation

Because of inadequate trust funds in 2008, the federal government passed legislation with new measures of solvency.   All state agencies are required to have an Average High Cost Multiple of 1.0 by the year 2019 to qualify for interest free loans under the Title XII loans provision.    The requirement started at 0.5 in 2014 and increases by 0.1 increments each year until 2019.    The trust fund balances are evaluated each year on December 31st to measure this new level of solvency.   According to the DOL (Department of Labor), twenty-one states currently have an AHCM of 1.0 as of December 31, 2016.  Thirty-one states qualify for an interest free loan in 2017 if requested.    While others are improving, the trust fund balance of six states dropped (IL, LA, MN, ND, WV and WY) with California and Virgin Island remaining insolvent.

Why is it so hard to maintain a healthy trust fund balance?    The amount paid in for an employee in contributions, does not equal the amount paid to the same employee when they become a claimant.  For example, the taxable wage base is $12,960 and the maximum rate in Illinois is 7.35%.   The total contributions of one employee in this example would be $953 per year.    The total a claimant can collect on benefits in Illinois (without extensions) is $11,362 collected in 26 weeks.   It takes contributions paid for twelve employees to satisfy the benefits of one unemployment claim.   When layoffs were high and employment was low, the trust funds dropped to all-time lows across the nation.    Increased taxable wage bases, increased rates for a few years and reduced benefits have helped some states to reach the AHCM required by the DOL.    Will it be enough for the next recession?   According to the new measurement of the DOL, only twenty-one states are ready to pay heightened benefits for one year.  For the remaining 32 states, the outlook is not so good.

If you have any questions or concerns, please contact Norma Green, our Tax Director, at (800) 207- 6926, EXT. 418 or ngreen@corporatecostcontrol.com


Guideline: April Training – Attendance

AttendanceCCC UI University’s April session on Attendance will provide an in depth study of discharges for attendance. Why are they so difficult to win? What policies can the employer have in place to be more successful? What tips are there to obtain a denial of benefits? Our presenters, Senior Account Executive Robert Mazza and Communications Director, Pamela Kiel take the opportunity to share their knowledge gathered from a combined 5o years of unemployment experience with the audience. Please join us for this session.

Register Here – April 26, 2017  2:00 Eastern

If you have questions about your state, please contact your Pamela Kiel, Director, Communications pkiel@corporatecostcontrol.com or (800) 207-6926, ext.220.

Contact CCC to see how we can save your organization time and money. Contact our Sales Team (800) 207-6926

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