Many of these employers are so solidly secured in these groups that their use or non-use of the unemployment program is unlikely to affect their contribution rate. Changing to an array system where employers are spread fairly evenly among 20 categories creates the likelihood that employers will move more freely among the contribution categories and encourages cautious use of the unemployment program. All procedures and definitions used herein are in accordance with Sub-chapter VII of the Maine Employment Security Law, as amended. This means the sum of the balance in the trust fund, the benefit fund, and the clearing account after adjustment for outstanding checks, and adjustment for funds in transit between either of said funds or said account. This refers to the aggregate total wages paid in Maine for a calendar year in covered employment by contributing employers, as reported on employer and contribution reports.
Total wages excludes wages paid by both direct reimbursable and Federal government employers.
This means the percentage obtained by dividing the net balance available for benefit payments as of September 30th of each calendar year by the total wages for the preceding calendar year. This is the total amount of benefits paid from the UI Trust fund during the period which is not recoverable by reimbursement from another source such as employer direct reimbursement or federal share of extended benefits, reduced by the amount of refunds deposited and further adjusted as to all other credits or recharges during the period. This is the percentage obtained by dividing net benefits paid for a calendar year by the total wages for the same period. Three highest benefit cost rates over the last 20 years. This is a measure of the fund reserve which expresses the current fund reserve ratio as a multiple of the composite cost rate.