(a) For initial claims filed on or after the first day of the calendar quarter following July 22, 2015, an insured worker's weekly benefit amount shall be an amount equal to one-twenty-sixth (1/26) of his or her average wages for insured work paid during the four (4) quarters of his or her base period.
(b) (1) A weekly benefit amount shall not be less than twelve percent (12%) of the state average weekly wage for insured employment for the preceding calendar year for benefit years beginning after June 30, 1987.
(2) However, effective July 1, 2012, the weekly minimum benefit amount established in subdivision (b)(1) of this section shall not be greater than eighty-one dollars ($81.00).
(c) (1) A weekly benefit amount shall not be greater than sixty-six and two-thirds percent (662/3%) of the state average weekly wage for insured employment for the previous calendar year for benefit years beginning after June 30, 1985.
(2) However, effective July 1, 2012, the weekly maximum benefit amount established in subdivision (c)(1) of this section shall not be greater than four hundred fifty-one dollars ($451).
(d) Weekly benefit amounts that are not in even multiples of one dollar ($1.00) shall be rounded to the next lower full dollar amount.
(e) On June 1 of each year, the Director of the Department of Workforce Services shall determine the average weekly wage for insured employment for the preceding calendar year in the following manner:
(1) The sum of the total monthly employment reported for the calendar year shall be divided by twelve (12) to determine the average monthly employment;
(2) The sum of the total wages reported for the previous calendar year shall be divided by the average monthly employment to determine the average annual wage; and
(3) The average annual wage shall be divided by fifty-two (52) to determine the average weekly wage for insured employment.
Section: 11-10-502 11-10-503 11-10-504 11-10-505 11-10-506 11-10-507 11-10-508 11-10-509 11-10-510 11-10-511 11-10-512 11-10-513 11-10-514 11-10-515 NextLast modified: November 15, 2016