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TWC CFO warns projected UI payouts could create shortfall; commissioners ask to explore mitigation options
Summary
TWC Chief Financial Officer Chris Nelson reported projections showing higher benefit payouts and a possible shortfall that could trigger statutory measures; commissioners asked staff to explore options to mitigate employer tax impacts.
Chris Nelson, chief financial officer for the Texas Workforce Commission, told commissioners Wednesday that projected unemployment insurance (UI) benefit payouts for the year have risen and that the trust fund could fall below the statutory floor by Sept. 30, 2025 if current assumptions hold.
Nelson said the commission projects “a little over $2,000,000,000 in revenue” and has increased estimated benefit payouts to $3,122,000,000. He said the projection assumes a transfer of about $456,000,000 from the…
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