If your workers receive vacation pay, holiday pay or bonus pay, we are happy to inform you that the Unemployment Insurance Agency (UIA) now has a process in place to automate the determination of these types of payments.
Employers fund the “unemployment system” by paying Federal and State unemployment payroll tax. Federal tax provides the operating and administrative funds for each respective state agency. Federal guidelines set minimal benefit standards and maintain oversight of each individual state unemployment program. In each state of business, an employer maintains a separate and specific tax account. They pay monies into this account in the form of taxes. Former employees, or claimants, draw monies out of this account in the form of unemployment benefits.
As part of an ongoing effort to upgrade and improve services to employers, the Unemployment Insurance Agency (UIA) on August 14 debuted its Michigan Web Account Manager (MiWAM). MiWAM replaces the old Employer Web Account Manager (EWAM) as the UIA’s new and improved system for managing unemployment tax accounts electronically.
The new system will allow employers and other managers of UI accounts to perform routine online transactions, such as filing reports, paying taxes, viewing statements and updating tax account information, around the clock.
Legislation supported by the Michigan Chamber in late 2011 to authorize the Michigan Finance Authority to bond for Michigan's $3.2 billion debt to the federal government for its employer-financed Unemployment Insurance (UI) system will save Michigan job providers over $1 billion in penalty and interest charges and other costs over the course of the bond transaction. These savings will be shared by the approximately 213,000 contributing employers in the state.
On Dec. 19, 2011, Governor Rick Snyder signed legislation to address Michigan’s bankrupt unemployment insurance (UI) system. The legislation attacks Michigan’s $3.2 billion debt to the federal government for its 100 percent employer-financed unemployment insurance (UI) system. Without this legislation, Michigan employers would have faced significant, ever-increasing federal penalties to repay the debt and interest, without building solvency in the fund that is used to pay unemployed workers (UI Trust Fund).
The Michigan Chamber of Commerce today applauded lawmakers and Gov. Rick Snyder for working together to enact Senate Bills 484, 484 and 806 – legislation that attacks Michigan’s $3.2 billion debt to the federal government for its 100 percent employer-financed unemployment insurance (UI) system. This Michigan Chamber-backed legislation, signed by the governor today, is a comprehensive solution to the UI crisis which includes both solvency solutions and cost-saving reforms.
Scores of media outlets across the country have published reports over the past week on the state of our nation's economy and the looming expiration of extended unemployment benefits.
A reporter for The New York Times interviewed Wendy Block, Director of Health Policy & Human Resources for the Michigan Chamber, who provided this quote:
"At one point, our unemployment taxes were just a blip on the balance sheet, but when you’re talking over $500 a head, this is significant...It's having a chilling effect on hiring."
Wednesday, June 22 -- Earlier today, the House Commerce Committee passed House Bills 4781-82, legislation to implement the major reform proposals recommended by the Michigan Chamber Foundation’s Unemployment Insurance (UI) Reform Study commissioned earlier this year. We expect this legislation to be considered by the full House the week of June 27.
The Michigan Chamber Foundation today released a major nonpartisan, economic study identifying up to $550 million in cost-saving reforms to Michigan’s bankrupt unemployment insurance system (UI).The study identifies strong and bold policy options to make Michigan more competitive and offset the need for additional employer taxes to pay down the nearly $4 billion Michigan owes to the federal government
Governor Snyder, on Monday, March 28, signed a significant unemployment insurance (UI) reform bill in Lansing. It marks one of the biggest UI reforms Michigan has seen in decades and will save job providers, who fund the UI system, nearly $1 billion over three years.