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Social Security Act

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Illinois Pritzker

Capitol News Illinois

Illinois to reduce federal unemployment debt by $450 million

Gov. JB Pritzker announces a plan Tuesday for the state to pay down $450 million of its outstanding $1.8 billion Unemployment Insurance Trust Fund debt to the federal government. SPRINGFIELD (Capitol News Illinois) – Gov. JB Pritzker announced a plan Tuesday to reduce a $1.8 billion Unemployment Insurance Trust Fund deficit by $450 million through an infusion of unemployment-related revenues. The trust fund is the pool of money paid into by employers to provide a social safety net for unemployed […]

todaySeptember 28, 2022 79

Social Security card

Business & Lifestyle

Social Security benefits to receive 1.6% increase for 2020

Recipients of Social Security may notice an increase of their benefits for 2020, according to the SSA. A cost-of-living adjustment of 1.6 percent is set to be added to benefits payable to more than 63 million beneficiaries beginning in January 2020. Increased benefits to more than 8 million SSI recipients will begin on December 31. (Please note that some people receive both benefits.) The Social Security Act ties the annual increase to the increase in the Consumer Price Index, as […]

todayOctober 21, 2019 33

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