mydata-iowa-gov/iowa-unemployment-compensation-fund-status-fund-k9rt-4t6d

  • iwd_tf
  • iwd_uistats
  • iwd_uistats_y
  • ui trust fund
  • ui trust fund solvency
  • + 1

Iowa Unemployment Compensation Fund Status - Fund Balance and Solvency

Iowa Unemployment Compensation Fund Status - Fund Balance and Solvency

This dataset contains annual Unemployment Insurance Trust Fund Balance and Solvency data. This data is analyzed in the "Status Report on the Iowa Unemployment Compensation Trust Fund" report.

Columns

NameSocrata field nameColumn name in sgr mountData typeDescription
High Year 3high_year_3high_year_3NumberHigh Year 3 - The year with the third highest benefit cost rate used to compute the Average High Benefit Cost Rate. The time period is last twenty years or three recessions (if longer)
High Year 2high_year_2high_year_2NumberHigh Year 2 - The year with the second highest benefit cost rate used to compute the Average High Benefit Cost Rate. The time period is last twenty years or three recessions (if longer)
High Year 1high_year_1high_year_1NumberHigh Year 1 - The year with the highest benefit cost rate used to compute the Average High Benefit Cost Rate. The time period is last twenty years or three recessions (if longer).
Average High Cost Multipleaverage_high_cost_multipleaverage_high_cost_multipleNumberAverage High Cost Multiple - A trust fund solvency measure equal to the ratio of the current UI Trust Fund balance (as a percent of total contributory wages) to the Average High Cost Rate.
High Cost Multiplehigh_cost_multiplehigh_cost_multipleNumberHigh Cost Multiple - A trust fund solvency measure equal to the ratio of the current UI Trust Fund balance (as a percent of total contributory wages) to the Highest Benefit Cost Rate.
Average High Benefit Cost Rateaverage_high_benefit_costaverage_high_benefit_costNumberAverage High Benefit Cost Rate - A measure of past high benefit costs. It is equal to the average of the three highest benefit cost rates in the last twenty years or a period including three national recessions, if longer.
Highest Benefit Cost Ratehighest_benefit_cost_ratehighest_benefit_cost_rateNumberHighest Benefit Cost Rate - The highest historic reserve ratio. The current high cost rate is based in the twelve months ending April 1983 where benefits totaled $317 million and covered wages totaled $11.6 billion. Benefits paid equaled 2.75 percent of wages.
Months Average High Costmonths_average_high_costmonths_average_high_costNumberMonths of Benefits in Trust Fund at Three Year Average High Benefit Cost Level - The number of months of benefits in the UI Trust Fund at the historic highest three year average benefit level adjusted for covered wage growth during the last twenty years or three recessions. The U. S. Department of Labor recommends a solvency standard of 12 months.
Months High Costmonths_high_costmonths_high_costNumberMonths of Benefits in Trust Fund at Highest Benefit Cost Level - The number of months of benefits in the UI Trust Fund at the historic highest benefit level adjusted for covered wage growth.
Benefit at Average High Costbenefit_at_average_high_costbenefit_at_average_high_costNumberBenefit at Average High Cost (millions) - The amount of benefits that would be paid out at the average of the three highest benefit cost rates in the last twenty years or a period including three national recessions, if longer (adjusted for covered wage growth).
CPI Adjusted TFcpi_adjusted_tfcpi_adjusted_tfNumberCPI Adjusted Trust Fund Balance (millions) - UI Trust Fund balance adjusted by the Consumer Price Index CPI-U 1982-1984=100
UI Trust Fundui_trust_fundui_trust_fundNumberUI Trust Fund Balance (millions): The Unemployment Trust Fund is a fund established in the Treasury of the United States which contains all monies deposited by state agencies to the credit of their unemployment fund accounts and federal unemployment taxes (FUTA) collected by the Internal Revenue Service. In this dataset this term refers to the balance in Iowa’s individual account in the Unemployment Trust Fund which is available to pay UI benefits.
YearyearyearNumberCalendar Year
Reserve Ratioreserve_ratioreserve_ratioNumberReserve Ratio - UI Trust Fund balance as a percentage of UI covered wages for contributory employers. The fund is expressed as a percentage of covered wages in order to control for employment and wage growth. The contribution rate table formulas use 2.0 percent of covered wages as a minimum safety factor.
Months Currentmonths_currentmonths_currentNumberMonths of Benefits in Trust Fund at the Current Benefit Level - UI Trust Fund Balance divided by average monthly UI Benefits paid for each year.
Benefit at Highest Costbenefit_at_highest_costbenefit_at_highest_costNumberBenefit at Highest Cost (millions) - The amount of benefits that would be paid out at the historic highest benefit level adjusted for covered wage growth for contributory employers. Iowa's highest benefit cost level is based on the 12-month period ending April 1983.
Iowa Reserve Fundiowa_reserve_fundiowa_reserve_fundNumberIowa Reserve Fund (millions) - This refers to the principal in the Unemployment Compensation Reserve Fund created in the state treasury under S. F. 458 in 2003. Monies in the reserve fund shall be used to pay benefits to the extent moneys in the unemployment compensation fund are insufficient to pay benefits during a calendar quarter.

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