Missouri Department of Labor and Industrial Relations |
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| Division of Employment Security |
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The Missouri Division of Employment Security fulfilled its commitment to repay an unemployment insurance debt incurred during 2003 and 2004. The Division paid $135,456,624 on May 25th signaling the end of an insolvent Unemployment Compensation Trust Fund (UCTF). The debt was paid four months before the end of the federal fiscal year, saving Missouri employers $2,205,688 in interest charges. Through a combination of factors, including an improving economy and legislative changes, Missouri was able to repay the debt. The Division of Employment Security will continue to monitor the solvency of the UCTF. |