TAXATION
Table 205.-- Fund Requirements for Most and Least Favorable Schedules and Range of Rates for Those Schedules 1/
Most favorable schedule | Least favorable schedule 2/ | ||||||
---|---|---|---|---|---|---|---|
Range of rates | Range of Rates | ||||||
States | Fund must equal at least | Min. | Max. | When fund balance is less than ***** | Min. | Max. 1/ | |
Alabama | 125% of desired level 7/ | 0.2 | 5.4 | 70% of desired level 7/ | 0.65 | 6.8 | |
Alaska | Reserve multiple equals 3.0 7/ | 1.0 | 6.5 | Reserve multiple less than .33% 7/ | 1.0 | 6.5 | |
Arizona | 12% of payrolls | 0.05 | 2.6 | 3% of payrolls | 2.85 | 5.4 | |
Arkansas | More than 5% of payrolls | 0.0 | 5.9 | 2.5% of payrolls | 0.1 | 6.0 | |
California | 1.8 of payrolls | 0.1 | 5.4 | .8% of payrolls | 1.3 | 5.4 | |
Colorado | $450 million | 0.0 | 5.4 | 0 or deficit | 1.0 | 5.4 | |
Connecticut | More than 8% of payrolls 2/ | 0.5 | 5.4 | .4% of payrolls 2/ | 0.5 | 5.4 | |
Delaware | Not specified | 0.1 | 8.0 | Not specified | 0.1 | 9.5 | |
District of Columbia | 3.0% of payrolls | 0.1 | 5.4 | .8% of payrolls | 1.9 | 7.4 | |
Florida 5/ | More than 5% of payrolls | 0.0 | 5.4 | 4% of payrolls | 0.0 | 6.4 | |
Georgia | 5% of payrolls | 0.025 | 5.4 | 3% of payrolls | 0.025 | 5.4 | |
Hawaii | 1.69 x adequate reserve fund | 0.0 | 5.4 | .2 x adequate reserve fund | 2.4 | 5.4 | |
Idaho | 5% of payrolls | 0.1 | 5.4 | 1.5% of payrolls | 2.4 | 6.8 | |
Illinois | 8/ | 0.2 | 6.4 8/10/ | 8/ | 0.2 8/ | 6.4 10/ | |
Indiana | 3% of payrolls | 0.2 | 5.4 | 1.5% of payrolls | 1.2 | 5.7 | |
Iowa | Current reserve fund ratio highest benefit cost rate | 0.0 | 7.0 | Current reserve fund ratio highest benefit cost rate | 0.0 | 9.0 | |
Kansas | 5% of payrolls | 0.0 | 5.4 | 1.5% of payrolls | 0.025 | 7.4 | |
Kentucky | $350 million | 0.157 | 9.0 | $150 million | 1.0 | 10.0 | |
Louisiana | Not specified | 0.09 | 6.0 | Not specified | 0.3 | 6.0 | |
Maine | Reserve multiple of over 2.5 | 0.5 | 6.4 | Reserve multiple of under .45 | 2.4 | 7.5 | |
Maryland | 7.4% of payrolls | 0.1 | 7.5 | 2.8% of payrolls | 2.0 | 9.5 | |
Massachusetts | 3% of payrolls | 0.6 | 6.5 | .8% of payrolls | 3.4 | 9.3 | |
Michigan | Not specified | 0.0 | 8.0 | Not specified | 1.0 | 10.0 | |
Minnesota | $300 million | 0.1 | 8.9 | $200 million | 0.6 | 8.9 | |
Mississippi 3/ | 0.1 | 5.4 | 4% of payrolls | 0.1 | 5.4 | ||
Missouri | $600 million | 0.0 | 5.4 | $300 million | 0.0 | 8.7 | |
Montana | 2.6% of payrolls | 0.0 | 6.4 | .5% of payrolls | 1.7 | 6.4 | |
Nebraska | 4/ | 5.4 | 4/ | 5.4 | |||
Nevada | Not specified | 0.3 | 5.4 | Max. annual bens. payable | 0.3 | 5.4 | |
New Hampshire | $110 million | 0.05 | 6.5 | 6/ | 2.8 | 6.5 | |
New Jersey | 10% of payrolls | 0.3 | 5.4 | 2.5% of payrolls | 1.2 8/ | 7.0 | |
New Mexico | 3.4% of payrolls | 0.05 | 5.4 | 1% of payrolls | 2.7 | 5.4 | |
New York 2/ | 5% of payrolls | 2.4 | 5.9 | 0% of payrolls | 5.2 5/ | 8.9 5/ | |
North Carolina | 9% of payrolls | 0.0 | 5.4 | 2.0% of payrolls | 0.0 | 5.4 | |
North Dakota | 25% of total bens. paid in last 12 months | 0.1 | 5.4 | 25% of total bens. paid in last 12 months | 0.1 | 5.4 | |
Ohio 7/ | 30% above min. safe level | 0.1 | 6.5 8/ | 60% below min. safe level | 0.1 | 6.5 8/ | |
Oklahoma 2/ | More than 3.5 x bens. | 0.1 12/ | 5.5 12/ | 2 x avg amount of bens. paid in last 5 yrs. | 0.5 | 5.5 | |
Oregon 11/ | 200% of fund adequacy percentage ratio | 0.5 | 5.4 | Fund adequacy percentage ratio less than 100% | 2.2 | 5.4 | |
Pennsylvania | 4/ | 0.3 | 5.4 | 4/ | Not specific | 9.2 | |
Puerto Rico | $589 million | 1.0 | 5.4 | $370 million | 2.5 | 5.4 | |
Rhode Island 2/ | 6.4% of total payrolls | 0.6 | 7.0 | 2.75% of total payrolls | 1.9 | 10.0 | |
South Carolina | 3.5% of payrolls | 0.19 | 5.4 | 2.5% of payrolls | 1.2 | 5.4 | |
South Dakota | More than $11 million | 0.0 | 7.0 | $5.5 million | 1.5 | 10.5 | |
Tennessee | $750 million | 0.0 | 10.0 | $300 million | 5.0 | 10.0 | |
Texas | 2% of taxable wages for 4 CQs ending preceding June 30 | 0.0 | 6.0 | 1% of taxable wages for 4 CQs ending preceding June 30 or $400 million | 0.0 | 6.0 | |
Utah | Reserve factor calculation equals 0.5 | 0.1 | 8.1 | Reserve factor calculation equals 2.0 | 0.1 | 8.1 | |
Vermont 7/ | 2.5 x highest ben. cost rate | 0.4 | 5.4 | 1.0 x highest ben. cost rate | 1.3 | 8.4 | |
Virginia 2/ | 1.39% of payrolls | 0.0 | 5.4 | less 0.58% of payrolls | 0.3 | 6.4 | |
Virgin Islands | 0.1 | 9.5 | 0.1 | 9.5 | |||
Washington | 3.4% of payrolls | 0.47 | 5.4 | 1.4% of payrolls | 2.47 | 5.4 | |
West Virginia | 1.75% of gross covered wages | 0.0 | 8.5 | 3.0% of gross covered wages | 1.5 | 8.5 | |
Wisconsin | $1 billion | 0.0 | 8.9 | $300 million | 0.27 | 8.9 | |
Wyoming | More than 5% of payrolls | 0.0 | 5.4 | $.0% of payrolls | 0.0 | 8.5 8/ |