Monday, May 4, 2015

Mercer: state unemployment fund flush

The slush money paid by the Future Fund pay-to-play scheme comes from every business owner in South Dakota who pays unemployment taxes.
The fund ended calendar 2014 with a balance of $84.8 million, according to final numbers. The goal had been approximately $76 million, based on a U.S. Department of Labor recommendation. During 2014, the trust fund received $43.7 million from employer contributions and interest while paying out $26.5 million in benefits. That allowed the balance to increase to nearly $85 million. [Bob Mercer, Unemployment fund is 'at a healthy place']
Future Fund cash is a feature of the Bendagate scandal.

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