What Is The Contribution Rate?
The initial contribution rate for new employers without an unemployment insurance history is set at the positive reserve percentage of 10.5 11.0 for the current schedule. Therefore, this rate changes any time the schedule changes. This "new employer rate" remains in effect for two years and then experience rating begins. The experience rating takes into account the following:
- Your account balance based on the immediately preceding twelve months of activity
- Plus the contributions you paid
- Less the benefits charged to your account
- Less the statewide "solvency assessment" charged to your account. (See explanation below.)
Each year during February, you will receive a "Notice of Unemployment Insurance Contribution Rate" (Form 9701) with your annual rate and the data used to calculate it. This rate is used to compute your next four quarterly contribution payments.
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
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