Iowa SSB1189 modifies unemployment insurance taxes for employers by reducing contribution rate tables and altering benefit ratio ranks.

Iowa SSB1189 changes the unemployment insurance tax system for employers by reducing the number of contribution rate tables from eight to four. The bill also modifies the benefit ratio ranks, grouping employers into nine ranks based on their benefit ratios. Employers in the first six ranks are grouped by 14.29 percent of total taxable wages, while the last three ranks are grouped by 4.76 percent. The bill further alters the computation of the current reserve fund ratio, basing it on the preceding year rather than the previous five calendar quarters.

Iowa SSB1189 modifies unemployment insurance taxes for employers by reducing contribution rate tables and altering benefit ratio ranks.

Iowa SSB1189 changes the unemployment insurance tax system for employers by reducing the number of contribution rate tables from eight to four. The bill also modifies the benefit ratio ranks, grouping employers into nine ranks based on their benefit ratios. Employers in the first six ranks are grouped by 14.29 percent of total taxable wages, while the last three ranks are grouped by 4.76 percent. The bill further alters the computation of the current reserve fund ratio, basing it on the preceding year rather than the previous five calendar quarters.