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ESD actuary flags 2027 solvency tax as trust fund months dip below 7
Summary
An Employment Security Department actuary reported the UI trust fund's months-of-benefit projection fell to about 6.9 months for 2026 due to a higher taxable wage base, prompting a projected solvency tax in 2027; the department said updated modeling reduces variance and will be monitored closely.
An Employment Security Department presenter reported Dec. 10 that updated projections put the state's unemployment insurance trust fund at about 6.9 months of benefits for 2026, a level that would trigger a solvency tax in 2027 if conditions do not improve.
The managing actuary, who introduced themself during the meeting as Yif Sheng after being introduced as Eve Chang, told the UI Advisory Committee the department incorporated three additional months of wage and claims data and is now projecting a higher taxable wage base of about $278 billion, which lowers the months-of-benefit…
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