How much does Unemployment Insurance coverage cost employers?
Most employers are liable to pay premiums into the trust fund on the first $7,000 paid to each employee during a calendar year. Premium rates for new non-governmental employers are based on the experience of their industry grouping, if the industry grouping has an exceptionally high benefit payout. All other new employers are assigned a 2.7% new employer premium rate. Historically, construction and mining are the only industries with new employer rates greater than 2.7%. Employers liable for premiums for three consecutive calendar years as of December 31 have rates based on their experience. Premium rates range from 0.0% to 10% for non-governmental employers and from 0.3% to 3% for governmental employers. State and local governments and certain nonprofit employers have the option of paying premiums or reimbursing the trust fund for their proportion of benefits paid to former employees. For premium rate information, call 615-741-3246. Who is eligible for Unemployment Benefits? Unemploym
