MEMORANDUM
TO: Senator Michael Rodrigues, Chair, Senate Committee on Ways and Means
Representative Aaron Michlewitz, Chair, House Committee on Ways and Means
Senator Patricia D. Jehlen, Chair, Joint Committee on Labor and Workforce
Development
Senator Jason M. Lewis, Vice Chair, Joint Committee on Labor and Workforce
Development
Representative Kip Diggs, Vice Chair, Joint Committee on Labor and Workforce
Development
Michael D. Hurley, Senate Clerk
Steven T. James, House Clerk
FROM: Lisa M. Hemmerle, Director, Department of Economic Research
DATE: September 13, 2024
SUBJECT: September 2024 UNEMPLOYMENT INSURANCE TRUST FUND
INFORMATION
The following information relates to the reporting on the Unemployment Insurance
Trust Fund (“UI Trust Fund”) for the month of August 2024.
As of August 31, 2024, the preliminary Massachusetts UI Trust Fund ending balance
was $2.55 billion.
Year-to-date through August 31, 2024, preliminary employer contributions totaled
$985.47 million.
Year-to-date through August 31, 2024, DUA paid $1.48 billion in benefits for regular UI
for 570,933 initial and continuing claims.
In response to the COVID-19 pandemic, the federal government enacted laws and
developed programs to provide expanded and enhanced federal unemployment
insurance benefits to affected individuals. Such federal programs were administered by
the Commonwealth primarily through the Executive Office of Labor and Workforce
Development (EOLWD). In connection with the Commonwealth’s fiscal 2022 audit,
EOLWD undertook a reconciliation of federal funding received during fiscal years 2020
through 2023 with respect to these expanded and enhanced unemployment insurance
programs developed and required by the federal government. Such reconciliation
identified $2.491 billion drawn by the Commonwealth from federal funding sources in
fiscal years 2020 through 2022 in error. The amount that may be due to the federal
government, and the timing, method, and source of such reimbursement, are currently
unknown. The Commonwealth is engaged in discussions with USDOL to resolve this
matter. The beginning balance of the Unemployment Compensation Trust Fund in the
fiscal year 2022 ACFR was restated and reduced to account for the results of this
reconciliation for fiscal years 2020 and 2021.1
The UI Trust Fund data is also available at Mass.gov/UITrustFund in the form of data
visualizations spanning from August 2023 through August 2024.
1
See Exhibit C – Annual Comprehensive Financial Report for the year ended June 30, 2022; Pages 26-27
and Note 1T to the Basic Financial Statements.