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Old 04-12-2011, 08:24 PM
 
Location: New Jersey
3,814 posts, read 10,920,005 times
Reputation: 943

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Quote:
Originally Posted by bobtn View Post
Employers do pay what is usually now the first 26 weeks, but with these cuts, employer ui taxes, which have gone sky high in recent years, would either stay flat or decline, depending on how many weeks are paid out. In essence, employers pay into a reserve for claims on X thousand of dollars (varies by state), X percent (varies by both state and claims exp rate). Their new rates depend on the ratio of claims to reserve, lower claims (I.e. 12 weeks) = better ratio = lower future employer ui percentage paid.
The specific problem in New Jersey is that for many years, governors of both parties diverted funds from the state unemployment insurance fund to other needs. As a result, the fund was on the verge this year of going completely bankrupt -- and state law required that the tax rates on employers be bumped up significantly to make up the difference. That would have meant an average increase of over $400 in tax that an employer would have to pay for each employee.

An agreement was negotiated to spread that increase over several years -- but it caused quite an uproar. So the employer rate is a very sensitive issue in this state, and the volatility of it has restricted certain employers from hiring more even though the economy has eased a bit.

 
Old 04-12-2011, 09:33 PM
 
Location: Ocean County, NJ
621 posts, read 1,989,185 times
Reputation: 199
Quote:
Originally Posted by diorgirl View Post
The specific problem in New Jersey is that for many years, governors of both parties diverted funds from the state unemployment insurance fund to other needs. As a result, the fund was on the verge this year of going completely bankrupt -- and state law required that the tax rates on employers be bumped up significantly to make up the difference. That would have meant an average increase of over $400 in tax that an employer would have to pay for each employee.

Actually Diorgirl, the cost of the average increase is $300.00 over a few years (3). Costing about on the average of $130 per year an employer would have to pay for each employee.
 
Old 04-12-2011, 09:52 PM
 
Location: New Jersey
3,814 posts, read 10,920,005 times
Reputation: 943
Quote:
Originally Posted by Tuck91NYG View Post
Actually Diorgirl, the cost of the average increase is $300.00 over a few years (3). Costing about on the average of $130 per year an employer would have to pay for each employee.
Nope -- you are quoting the recommendations made by the New Jersey Unemployment Insurance (UI) Task Force in February 2011. Those recommendations have not been enacted -- and the original figure discussed was about a $400 increase as I stated.
 
Old 04-12-2011, 10:07 PM
 
Location: Ocean County, NJ
621 posts, read 1,989,185 times
Reputation: 199
its 300.00 and if its not phased in, it will hit all at once this summer.
 
Old 04-12-2011, 10:26 PM
 
12,046 posts, read 33,481,482 times
Reputation: 8848
Quote:
Originally Posted by Tuck91NYG View Post
its 300.00 and if its not phased in, it will hit all at once this summer.
Diorgirl has stated from where she got her figure of $400. Where did you get your figure of $300?
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Old 04-12-2011, 11:07 PM
 
Location: Ocean County, NJ
621 posts, read 1,989,185 times
Reputation: 199
Quote:
Originally Posted by JMT View Post
Diorgirl has stated from where she got her figure of $400. Where did you get your figure of $300?
She did not post where she got it from because the increase wasn't 400 million.

NJBIA - Capitol Memo

It was estimated 350 dollars and the actual cost ended up being 300 dollars. All they did was push back the tax hike to this year. Thats why this year they are actively looking to extend it over 3 years at an average cost of 100 dollars per employee. last year the tax hike was 130 per employee for this year only. without any legislation passed, the tax hike will be on average of $300 dollars per employee. Legislation is sitting on Christie's desk to pass law for the phase in and not a lump sum hit.
 
Old 04-13-2011, 12:57 AM
 
Location: NJ
18,677 posts, read 17,385,269 times
Reputation: 7284
Even an increase of $300 would be insane. At a 150 employee firm, its $45k, so when hard pressed at some a firm, you fire one clerk, and between gross pay and their benefits, you saved the $45k. Is that the result you desire-fire one per 150 NOW?
 
Old 04-13-2011, 02:20 AM
 
Location: New Jersey
3,814 posts, read 10,920,005 times
Reputation: 943
Quote:
Originally Posted by Tuck91NYG View Post
She did not post where she got it from because the increase wasn't 400 million.
400 million what? No one said anything about 400 million anything.

Once again, you are citing a report dated February 2011 -- none of the recommendations in the report have been enacted yet.
 
Old 04-13-2011, 02:22 AM
 
Location: Ocean County, NJ
621 posts, read 1,989,185 times
Reputation: 199
I meant 400 dollars.
 
Old 04-13-2011, 02:25 AM
 
Location: Ocean County, NJ
621 posts, read 1,989,185 times
Reputation: 199
Quote:
Originally Posted by diorgirl View Post
xxx
Lolwut?
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