United States:
New Jersey Bill Seeks To Raise Unemployment Insurance Rate Cap
19 September 2012
Ogletree, Deakins, Nash, Smoak & Stewart
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On May 31, 2012, the New Jersey Senate unanimously passed a bill
(S1121) aimed at assessing a higher unemployment insurance rate on
employers with markedly lower Employer Reserve Ratios (i.e., those
employers with more former employees collecting unemployment).
Whereas the current rate cap is set at 7%, if signed into law, that
cap would increase on a sliding scale up to 9%. The bill now awaits
Assembly consideration.
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