{"id":5220,"date":"2011-03-18T16:34:26","date_gmt":"2011-03-18T21:34:26","guid":{"rendered":"https:\/\/old.visionpayroll.com\/kb\/?p=5220"},"modified":"2011-03-29T16:40:04","modified_gmt":"2011-03-29T21:40:04","slug":"question-of-the-week-what-is-the-solvency-assessment-in-massachusetts","status":"publish","type":"post","link":"https:\/\/old.visionpayroll.com\/kb\/2011\/03\/question-of-the-week-what-is-the-solvency-assessment-in-massachusetts\/","title":{"rendered":"Question of the Week: What Is the Solvency Assessment in Massachusetts?"},"content":{"rendered":"
\r\n\t\"\"<\/a>\r\n\t
MA EOLWD Secretary Joanne F. Goldstein<\/div>\r\n<\/div>This week\u2019s question comes from Stan, an HR manager. We just received our Notice of Employers Unemployment Insurance Contribution Rate Statement of Account Balance from the Massachusetts Division of Unemployment Assistance (DUA)<\/a>. A solvency assessment was subtracted from our account balance. What is the solvency assessment in Massachusetts? Answer: The solvency assessment is used to pay benefits that are not assigned to an individual employer.<\/p>\n

Three Main Charges To the Solvency Assessment Account<\/strong><\/p>\n

The solvency account has three main charges as follows:<\/p>\n

    \n
  1. Dependency allowances<\/li>\n
  2. State-funded extended benefits, and<\/li>\n
  3. Benefits paid when claimants are in DUA<\/a> approved training programs.<\/li>\n<\/ol>\n

    Solvency Assessment Is not Paid Directly, but Reduces the Employer\u2019s Account Balance<\/strong><\/p>\n

    The solvency assessment is not paid through the DUA<\/a> QUEST<\/a> system, but is applied to the account balance when calculating the employer\u2019s new rate. The solvency assessment rate of 1.22% for 2010 (1.71% for 2011) is multiplied by the employer\u2019s taxable wages for the period to determine the total solvency assessment to be applied to each account.<\/p>\n

    More Questions on the Massachusetts Solvency Assessment?<\/strong><\/p>\n

    Contact Vision Payroll<\/a> if you have further questions on the Massachusetts solvency assessment.<\/p>\n","protected":false},"excerpt":{"rendered":"

    MA EOLWD Secretary Joanne F. Goldstein This week\u2019s question comes from Stan, an HR manager. We just received our Notice of Employers Unemployment Insurance Contribution Rate Statement of Account Balance from the Massachusetts Division of Unemployment Assistance (DUA). A solvency assessment was subtracted from our account balance. What is the solvency assessment in Massachusetts? Answer: […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[871,1056,44],"_links":{"self":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/5220"}],"collection":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/comments?post=5220"}],"version-history":[{"count":2,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/5220\/revisions"}],"predecessor-version":[{"id":5222,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/posts\/5220\/revisions\/5222"}],"wp:attachment":[{"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/media?parent=5220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/categories?post=5220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/old.visionpayroll.com\/kb\/wp-json\/wp\/v2\/tags?post=5220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}