Just Announced | Unemployment Benefits for Part Time Workers | What You Must Know
The US Department of Labor just made this announcement:
Employers are reopening their business and bringing workers back part-time. Get in touch with your state unemployment office to learn about unemployment benefits available for individuals whose hours have been reduced.
Short-Time Compensation (STC), also known as work sharing or shared-work program, is an alternative to layoffs for employers experiencing a reduction in available work. STC preserves employees’ jobs and employers’ trained workforces during times of lowered economic activity.
STC allows employers to reduce hours of work for employees rather than laying-off some employees while others continue to work full time.
Those employees experiencing a reduction in hours are allowed to collect a percentage of their unemployment compensation (UC) benefits to replace a portion of their lost wages. STC cushions the adverse effect of the reduction in business activity on workers by averting layoffs and ensures that these workers will be available to resume prior employment levels when business demand increases.
Currently, 27 states have STC programs established in law that meet the new federal definition with 26 having operational programs (Arizona, Arkansas, California, Colorado, Connecticut, Florida, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Vermont, Washington, and Wisconsin).
ELIGIBILTY
In order to receive benefits under the STC program, employers must have an approved STC plan in place with the appropriate state workforce agency. The STC application process is initiated by employer(s) and not employee(s). Therefore, in order for employees with reduced hours to potentially be eligible for STC, the employer must submit an application to the appropriate state agency and the state must approve the employer’s application/plan.
In order to qualify for STC, employees must first be determined to be eligible for UC. While receiving UC benefits under an STC plan, employees are not required to meet availability or work search requirements, but they are required to be available for their normal workweek.
Also, employees who are eligible to participate in an employer’s STC plan may be required to serve a mandatory “waiting week,” which is a non-paid week (required by most states).
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✅ ✅ ✅ References ✅ ✅ ✅
https://twitter.com/USDOL/status/1300101496839835650
https://oui.doleta.gov/unemploy/docs/stc_fact_sheet.pdf
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⚠️ ⚠️ ⚠️ ⚠️ LEGAL DISCLAIMER ⚠️ ⚠️ ⚠️ ⚠️
✅ The information on all videos of this channel is for entertainment purposes only and cannot be considered legal or professional advice.
⭕ None of the content in these videos can be considered tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other.
⭕ Neither the speaker nor his associates are accountants, attorneys, insurance brokers, independent contractors, money lenders or financial advisers.
⭕ It is the individual responsibility of every person to consult with qualified professionals including but not limited to a qualified CPA, attorney, insurance agent or financial adviser prior to making any and all decisions.
Видео Just Announced | Unemployment Benefits for Part Time Workers | What You Must Know канала Dr. Nitin Chhoda - Ignition Time
Employers are reopening their business and bringing workers back part-time. Get in touch with your state unemployment office to learn about unemployment benefits available for individuals whose hours have been reduced.
Short-Time Compensation (STC), also known as work sharing or shared-work program, is an alternative to layoffs for employers experiencing a reduction in available work. STC preserves employees’ jobs and employers’ trained workforces during times of lowered economic activity.
STC allows employers to reduce hours of work for employees rather than laying-off some employees while others continue to work full time.
Those employees experiencing a reduction in hours are allowed to collect a percentage of their unemployment compensation (UC) benefits to replace a portion of their lost wages. STC cushions the adverse effect of the reduction in business activity on workers by averting layoffs and ensures that these workers will be available to resume prior employment levels when business demand increases.
Currently, 27 states have STC programs established in law that meet the new federal definition with 26 having operational programs (Arizona, Arkansas, California, Colorado, Connecticut, Florida, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Vermont, Washington, and Wisconsin).
ELIGIBILTY
In order to receive benefits under the STC program, employers must have an approved STC plan in place with the appropriate state workforce agency. The STC application process is initiated by employer(s) and not employee(s). Therefore, in order for employees with reduced hours to potentially be eligible for STC, the employer must submit an application to the appropriate state agency and the state must approve the employer’s application/plan.
In order to qualify for STC, employees must first be determined to be eligible for UC. While receiving UC benefits under an STC plan, employees are not required to meet availability or work search requirements, but they are required to be available for their normal workweek.
Also, employees who are eligible to participate in an employer’s STC plan may be required to serve a mandatory “waiting week,” which is a non-paid week (required by most states).
✅ ✅ ✅ Related Videos ✅ ✅ ✅
Managing your Money Crash Course
https://www.youtube.com/playlist?list=PLVH26Cj7l0u4SUi0yjFAqhq9qUh4m86NJ
Millionaire Mindset Blueprint
https://www.youtube.com/playlist?list=PLVH26Cj7l0u7w9c7SUB-yvSSuDa00ox0k
Stimulus Proposals
https://www.youtube.com/playlist?list=PLVH26Cj7l0u48VMXQGWeMFhpStHOIdEWS
Stimulus Check Updates
https://www.youtube.com/playlist?list=PLVH26Cj7l0u4ZCGsEQjlC-SMXOOUIS6FR
Unemployment Benefits Crash Course
https://www.youtube.com/playlist?list=PLVH26Cj7l0u760ffkUSGNPOoeganAlWaK
Remote Work 101
https://www.youtube.com/playlist?list=PLVH26Cj7l0u6TalvIfZLd5HCvf8BeYEKE
Click LIKE / SUBSCRIBE / SHARE to get future updates and BREAKING, BALANCED NEWS to boost your financial knowledge.
BOOKMARK this channel in your browser - https://www.youtube.com/ignitiontime
✅ ✅ ✅ References ✅ ✅ ✅
https://twitter.com/USDOL/status/1300101496839835650
https://oui.doleta.gov/unemploy/docs/stc_fact_sheet.pdf
LEAVE COMMENTS BELOW & PARTICIPATE IN OUR COMMUNITY! Click LIKE / SUBSCRIBE / SHARE so you get updates and breaking news alerts right away!
⚠️ ⚠️ ⚠️ ⚠️ LEGAL DISCLAIMER ⚠️ ⚠️ ⚠️ ⚠️
✅ The information on all videos of this channel is for entertainment purposes only and cannot be considered legal or professional advice.
⭕ None of the content in these videos can be considered tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other.
⭕ Neither the speaker nor his associates are accountants, attorneys, insurance brokers, independent contractors, money lenders or financial advisers.
⭕ It is the individual responsibility of every person to consult with qualified professionals including but not limited to a qualified CPA, attorney, insurance agent or financial adviser prior to making any and all decisions.
Видео Just Announced | Unemployment Benefits for Part Time Workers | What You Must Know канала Dr. Nitin Chhoda - Ignition Time
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1 сентября 2020 г. 3:30:02
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