COMPUTATION OF BENEFIT AMOUNT.
A. The weekly benefit amount of an individual shall be an amount equal to one twenty-third (1/23) of the taxable wages paid to the individual during that quarter of his base period in which the taxable wages were highest. If the amount is more than the maximum weekly benefit amount, it shall be reduced to the maximum weekly benefit amount or if the amount is less than Sixteen Dollars ($16.00), it shall be increased to Sixteen Dollars ($16.00).
B. The maximum weekly benefit amount shall be:
1. Sixty percent (60%) of the average weekly wage of the second preceding calendar year during any calendar year in which the balance in the Unemployment Compensation Fund is in excess of the amount required to initiate conditional contribution rates, pursuant to the provisions of Section 3-113 of this title;
2. Fifty-seven and one-half percent (57.5%) of the average weekly wage of the second preceding calendar year during calendar years in which condition "a", as set forth in paragraph (1) of Section 3-113 of this title, exists;
3. Fifty-five percent (55%) of the average weekly wage of the second preceding calendar year during calendar years in which condition "b", as set forth in paragraph (2) of Section 3-113 of this title, exists;
4. Fifty-two and one-half percent (52.5%) of the average weekly wage of the second preceding calendar year during calendar years in which condition "c", as set forth in paragraph (3) of Section 3-113 of this title, exists; and
5. Fifty percent (50%) of the average weekly wage of the second preceding calendar year during calendar years in which condition "d", as set forth in paragraph (4) of Section 3-113 of this title, exists.
C. Before the last day of June of each year the Commission shall determine the average weekly wage of the preceding calendar year in the following manner:
1. The sum of the total monthly employment reported for the calendar year shall be divided by twelve (12) to determine the average monthly employment;
2. The sum of the total wages reported for the previous calendar year shall be divided by the average monthly employment to determine the average annual wage; and
3. The average annual wage shall be divided by fifty-two (52) to determine the average weekly wage.
Added by Laws 1980, c. 323, § 2-104, eff. July 1, 1980. Amended by Laws 1983, c. 270, § 4, emerg. eff. June 23, 1983; Laws 1998, c. 161, § 4, eff. July 1, 1998; Laws 2017, c. 345, § 3, eff. July 1, 2017.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.