Illinois Making Large Payment Toward Unemployment Insurance Loan
September 28, 2022 12:01PM CDT
Illinois will be making a significant payment toward the Unemployment Insurance Loan. Governor Pritzker says the state will be paying off 450-million-dollars of the one-point-eight-billion-dollars borrowed under Title 12 of the Social Security Act. Due to historic low unemployment insurance claims, the unemployment insurance trust fund has the capacity to make this payment without impairing the department’s ability to pay benefits.