Plan To Change Unemployment Compensation Fund In The Works

Sep 21, 2017

The state seems to be one step closer to a plan that would make changes to the way the state funds the program that pays benefits to unemployed workers. The next step is getting both labor and business to approve the idea.

House Speaker Pro Tem Kirk Schuring (R-Canton) says he’s put together a plan that could save the unemployment compensation fund from taking another hit like the one in 2008 when the state had to borrow billions of dollars from the feds. “My goal is to have something that would be a solvency plan and will be an equal share that will lead to solvency that will come from employers and employees,” Schuring said.

Schuring says this plan was cobbled together with ideas expressed from both sides and is now under review by a non-partisan, research arm of the legislature.

The state is currently operating on a system meant to be a temporary two-year stopgap until lawmakers could come up with a permanent plan.