Social Security Act

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Illinois Pritzker

Capitol News Illinois

Illinois to reduce federal unemployment debt by $450 million

Low unemployment has allowed for payment from trust fund balance

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 6

Business & Lifestyle

Social Security benefits to receive 1.6% increase for 2020

Recipients of Social Security and Supplemental Security Income (SSI/SSI Disability) benefits for nearly 69 million Americans may notice an increase of their benefits for 2020, according to the Social Security Administration. A cost-of-living adjustment of 1.6 percent is set to be added to benefits payable to more than 63 million Social Security 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 Social Security […]

todayOctober 21, 2019 3

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