Maine unemployment fund called solvent

The Associated Press
Posted Dec. 01, 2009, at 6 a.m.

AUGUSTA, Maine — Maine Labor Commissioner Laura Fortman says Maine is one of only a few states likely to emerge from the recession with a solvent unemployment trust fund.

Fortman said Monday that the Maine Unemployment Trust Fund will continue to operate in 2010 without interruption. But because of higher total benefits paid during the recession, there will be an increase in unemployment insurance premiums.

Fortman said that according to recent projections from the U.S. Department of Labor, Maine will be one of only a handful of states to emerge from the recession with a solvent unemployment trust fund.

The agency estimates that as many as 40 states will have to borrow money in 2010 in order to continue to pay unemployment benefits to workers who’ve lost their jobs.

http://bangordailynews.com/2009/12/01/business/maine-unemployment-fund-called-solvent/ printed on July 23, 2014