The memorandum provides an update on the Massachusetts Unemployment Insurance Trust Fund (UI Trust Fund) as of January 31, 2025, reporting a preliminary ending balance of $1.98 billion. Year-to-date employer contributions reached $90.89 million, while the Department of Unemployment Assistance (DUA) disbursed $217.69 million in benefits for 84,977 claims. The report emphasizes that it focuses solely on actual financial transactions, without projections or estimates.

Additionally, the memorandum notes a significant agreement reached on January 17, 2025, between the Commonwealth and the U.S. Department of Labor, which resolves any outstanding liabilities related to pandemic unemployment insurance overdraws from federal programs initiated during the COVID-19 pandemic. The first payment under this agreement is scheduled for December 1, 2025, and it is expected that the rate schedule will remain unchanged based on the quarterly projections. The UI Trust Fund data is accessible online at Mass.gov/UITrustFund, featuring visualizations from January 2024 to January 2025.