What is the departmental administrative contingency assessment and interest surcharge?
In accordance with Section 41—27-410 of the South Carolina Code of Laws, all employers, with the exception of those who have elected to make payments in lieu of contributions as prescribed in 41-31-620 are subject to a 0.06% departmental administrative contingency assessment which became effective January 1, 1986. The funds generated by the departmental administrative contingency assessment are used to assist with the Department with employment and reemployment activities, to undertake programs and activities which further the goals of the Department of Employment and Workforce, and to provide information and analysis to the legislature and program managers about issues related to employment and unemployment. In accordance with Section 41-31-55(a), effective January 1, 2011, all contributory employers are subject to an interest surcharge. The funds from the interest surcharge will be used to pay interest on any outstanding debts to the federal government for unemployment benefits. An i
Related Questions
- How does our departmental assessment plan relate to the four column report provided to the Assessment Committee and what is the due date for my assessment plan and report?
- Has the agency conducted a risk assessment, and identified and implemented appropriate technical, administrative, and operational security controls?
- Are all employers subject to both the Interest Surcharge and the Contingency Assessment?
