Employer-Funded Unemployment Trust Fund Stable for 2021

Michigan’s Unemployment Insurance Agency (UIA) announced today that a $500 million balance in the state’s Unemployment Insurance Trust Fund (UITF) is expected to be sufficient to cover benefits for the rest of the year. The report is positive news for employers who exclusively fund the UITF and would incur additional costs if the state were forced to borrow from the federal government in the event reserves are insufficient to cover unemployment benefits.

The solvency of the employer-funded UITF has come into question as the state paid out record levels of unemployment benefits as a result of the COVID-19 crisis. Since 3/15/20, the UIA has paid over $29 billion to claimants. $5.1 billion has been paid from the UITF, with the remaining benefit payments coming from federal programs.

The UIA credit’s Michigan’s Work Share program with saving the UITF over $80 million. At the peak of enrollment, 2,700 Michigan businesses and 97,000 employees participated in the Work Share program, which allows job providers to put employees on a reduced work schedule and pay a portion of their wages while the employee collects partial unemployment benefits.

New & Notable

It’s a Seller’s Market:
Recruiting During the Pandemic

Host: Sigred Solutions
(MMA Premium Associate Member)

Tuesday, February 23, 2021 at 8:30 a.m
Register online.

Recruiting is key to your company’s growth and success, yet the global pandemic, geographic mismatches and demographic trends have made it more difficult than ever to attract top talent. What can you do to find the candidates that fit your culture and the job requirements in this new “candidate’s market”?

Register today to hear from Nicole Ensink, Human Resources Partner for BorgWarner, about how the global automotive supplier is managing recruiting under challenging conditions. Mike Dergis, Partner of Management Recruitment at Sigred Solutions, and Joe Bamberger, Managing Partner of Workforce Strategies at Emerge Consulting, will provide insights on talent acquisition and best practices you can use immediately to improve your recruiting.

Unemployment Insurance 101

Friday, February 26, 2021 at 11:00 a.m
Register online.

Unemployment insurance issues have been front and center in the last year. From significant changes in benefits and how they are charged to employers, to widespread fraud and agency staffing issues, make sure you are up-to-date on the fundamentals and ready for what’s ahead.

Join MMA, the Association for Human Resource Management (AHRM) and the Michigan Unemployment Insurance Agency (UIA) for a virtual discussion that will give you all the information you need to work successfully with the UIA on unemployment matters in 2021. Learn about pandemic-related changes to employer tax rates and chargeable benefits, the best ways to facilitate claim filings and appeals, tips on using MiWAM and more.

Resources for Manufacturers

Stay updated and compliant with the many changes imposed over the last few weeks. Find state, federal and member resources on MMA’s COVID-19 Resources.

Please continue to reach out to the MMA team with questions.