BATON ROUGE – The state Revenue Estimating Conference on Friday adopted a 2016 financial projection for the Louisiana Unemployment Insurance Trust Fund that shows modest growth over the next year.
Louisiana Workforce Commission Executive Director Curt Eysink said the action ensures there will be no tax increases for employers who pay into the fund and no reductions in benefits for claimants in 2016.
Contributions to the fund are paid for by employers, not through deductions from employee pay.
For the year ending Aug. 31, 2015, the trust fund closed with a balance of $947 million. The Revenue Estimating Conference adopted a projected balance of $961 million on Aug. 31, 2016.
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