Maximum unemployment benefits to increase in Iowa
Monday, June 24, 2013 2:55 PM
The maximum amount of weekly benefits paid to jobless Iowans and workers injured on the job will increase on July 1, Iowa Workforce Development announced today.
The maximum unemployment benefit will range from $408 to $501, depending on the number of dependents the worker has. That's an increase of $12 to $15 from the current amount.
The change was prompted by an increase in the average annual wage for insured Iowa workers to $40,106.68 from $38,949.32. About 89 percent of Iowa's estimated workforce of 1,638,800 were covered by the Iowa unemployment insurance program in 2012. About half of those eligible for unemployment benefits have sufficient earnings to qualify for the maximum benefit.
The amount employers pay into the unemployment fund will not be affected by the higher maximum value, an Iowa Workforce Development spokesperson said. Employers pay into the fund based on solvency, so their tax is based on individual circumstances.
Also beginning July 1, the workers' compensation maximum weekly benefit for temporary total disability, healing period, permanent total disability and death will rise to $1,543, up from $1,498. For permanent partial disability, the weekly maximum will be $1,419, up from $1,378.