WeVote
Log In

Bill

Bill

SD 2996

Unemployment Insurance Trust Fund Data June 2025 Report

194th Legislature (2025-2026)

Provides May 2025 Unemployment Insurance Trust Fund data and flags a December 1, 2025 payment due under the pandemic overdraws agreement.

Placed on file
0
WeVote Research Nonpartisan
Bill Summary · SD 2996

Summary: SD 2996 — Unemployment Insurance Trust Fund Data June 2025 Report

Overview

SD 2996 is a proposed Massachusetts bill titled “Unemployment Insurance Trust Fund Data June 2025 Report.” As introduced on June 26, 2025, the measure is currently listed as placed on file, meaning it is not advancing as active legislation but is recorded for informational or reporting purposes. The accompanying memorandum from the Department of Economic Research provides the May 2025 snapshot of the Unemployment Insurance (UI) Trust Fund.

Purpose and Intent

  • To provide a formal reporting framework and public-facing data about the UI Trust Fund status for May 2025, informing the Legislature and public about fund balance, receipts, and expenditures.
  • To acknowledge and reflect the impact of a joint agreement with the U.S. Department of Labor regarding pandemic unemployment insurance overdraws, and to note the financial obligations arising from that agreement (including a scheduled payment due December 1, 2025).
  • To direct stakeholders to official data visualizations and ensure transparency about the UI Trust Fund’s status and trends.

Key Provisions and Content

  • Reporting Period: May 2025 UI Trust Fund information (the memo notes data as of May 31, 2025).
  • Financial Snapshot (May 31, 2025):
    • Ending balance: $2.36 billion.
    • Year-to-date employer contributions (through May 31, 2025): $1.02 billion.
    • Year-to-date UI benefit disbursements (through May 31, 2025): $1.03 billion for regular UI, affecting 393,836 initial and continuing claims.
  • Pandemic Overdraws Agreement:
    • On January 17, 2025, Massachusetts and the U.S. Department of Labor reached a resolution regarding pandemic UI overdraws.
    • The impact of the agreement is reflected in the April 2025 projections in the UI Trust Fund Quarterly Outlook Reports.
    • The Commonwealth’s first payment under the agreement is due December 1, 2025.
  • Data Accessibility: UI Trust Fund data are available at Mass.gov/UITrustFund, including data visualizations covering May 2024 through May 2025.

Who/What is Affected

  • Massachusetts UI Trust Fund operations and reporting.
  • Massachusetts Department of Unemployment Assistance (DUA) and related state fiscal staff.
  • State policymakers and the public seeking transparency on fund health and pandemic-related liabilities.

Procedural and Timeline Aspects

  • Legislative Action: Placed on file on June 26, 2025.
  • Data timeline: May 2025 fund data; visualizations span May 2024–May 2025.
  • Financial liability: Pandemic UI overdraw agreement with federal government leads to a payable obligation, first due December 1, 2025.

Data Access and Transparency

  • Official data and visualizations are available at Mass.gov/UITrustFund, enabling stakeholders to explore fund balances, contributions, and benefit payments over the cited period.

Potential Impact and Implications

  • Provides legislators and the public with a concise, up-to-date fiscal picture of the UI Trust Fund and the near-term obligation from the pandemic overdraws agreement.
  • Helps inform discussions on unemployment insurance financing, potential policy adjustments, and oversight of fund solvency as of mid-2025.
  • No explicit new appropriations or fund changes are described in the memo; the bill appears to serve a reporting/communication function rather than create new fiscal obligations.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.