Iowa HSB114 modifies unemployment insurance taxes on employers by changing contribution rates and benefit ratio ranks.

Iowa HSB114 alters the unemployment insurance system for employers by modifying contribution rates and benefit ratio ranks. The bill reduces the number of benefit ratio ranks from 21 to 9 and changes the contribution rate tables from eight to four. It also modifies the calculation of the current reserve fund ratio, removing the requirement to add $150 million to the total funds available for benefits. Employers with savings from the bill must use them for employee salaries or benefits or as an alternative to unemployment benefits during seasonal unemployment.

Iowa HSB114 modifies unemployment insurance taxes on employers by changing contribution rates and benefit ratio ranks.

Iowa HSB114 alters the unemployment insurance system for employers by modifying contribution rates and benefit ratio ranks. The bill reduces the number of benefit ratio ranks from 21 to 9 and changes the contribution rate tables from eight to four. It also modifies the calculation of the current reserve fund ratio, removing the requirement to add $150 million to the total funds available for benefits. Employers with savings from the bill must use them for employee salaries or benefits or as an alternative to unemployment benefits during seasonal unemployment.