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CCH® UNEMPLOYMENT INSURANCE — 9/22/16

Employer surcharge ends effective with third quarter of 2016

Effective beginning January 1, 2014, there was a surcharge on all subject contributing employers in Kentucky in order to repay funds borrowed from the federal government to pay UI benefits, plus the interest on those advances, under Title XII of the Social Security Act. The principal on the loan was paid off in 2015. In addition, sufficient funds were collected through the first two quarters of 2016 to pay off the interest owed. As a result, the surcharge assessment concluded at the end of the second quarter of 2016 and employers' rate statements beginning with the third quarter of 2016 will reflect a 0% surcharge assessment (DUI Letter).