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Labor Department: Unemployment insurance fund will be solvent before 2014
State Department of Labor and Workforce Development officials updated the Senate Labor Committee on the status of the Unemployment Insurance Trust Fund earlier today.
The fund, which peaked at $2.1 billion in loans to the federal government, is scheduled to become solvent again by the end of 2013, officials said.
Labor has imposed new regulations regarding workers who were fired for misconduct that have saved the state roughly $85 million, while an antifraud program is expected to save $100 million by March, according to deputy Commissioner Aaron Fichtner. (Kitchenman, NJBIZ)
