288.122. If cash in fund exceeds certain amounts, contribution rate to decrease, amount--table--effective when. - Missouri Statutes

If cash in fund exceeds certain amounts, contribution rate todecrease, amount--table--effective when.

288.122. On October first of each calendar year, if the averagebalance, less any federal advances, of the unemployment compensation trustfund of the four preceding quarters (September thirtieth, June thirtieth,March thirty-first and December thirty-first of the preceding calendaryear) is more than six hundred million dollars, then each employer'scontribution rate calculated for the four calendar quarters of thesucceeding calendar year shall be decreased by the percentage determinedfrom the following table:

Balance in Trust Fund

Percentage More Than Equal to or Less Than of

Decrease $600,000,000 $750,000,000 7% $750,000,000 12%

Notwithstanding the table in this section, if the balance in theunemployment insurance compensation trust fund as calculated in thissection is more than seven hundred fifty million dollars, the percentage ofdecrease of the employer's contribution rate calculated for the fourcalendar quarters of the succeeding calendar year shall be no greater thanten percent for any employer whose calculated contribution rate undersection 288.120 is six percent or greater.

(L. 1982 H.B. 1521, A.L. 1984 H.B. 1251 & 1549, A.L. 1988 H.B. 1485, A.L. 1992 S.B. 626, A.L. 1994 S.B. 559, A.L. 2004 H.B. 1268 & 1211, A.L. 2006 H.B. 1456)

Effective 10-01-06