Kentucky Statutes 341.550 – Pooled account for contributing employers
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(1) The cabinet shall maintain a pooled account for contributing employers to which shall be credited:
(a) Payments received from the federal government under the provisions of Section 204(a)(1) of the “Federal-State Extended Unemployment Compensation Act of 1970,” and amendments thereto;
(b) All realized earnings and gains on investments of the fund;
(c) Except as provided in KRS § 341.540, any balance remaining in the reserve account of any previously subject contributing employer after such employer has ceased to be subject to this chapter;
(d) Any payments into or amounts in the fund not allocable to any employer’s reserve account; and
(e) Any payments collected under subsection (2) of this section.
(2) (a) Except as provided in KRS § 341.530(4), any benefits paid through error which would otherwise have been chargeable to the reserve account of a contributory employer shall be charged against the pooled account. However, no employer making payments to the fund in lieu of contributions shall be relieved of charges by reason of this subsection.
(b) The repayment of benefits paid erroneously as provided in subsection (1) of KRS § 341.415 shall be credited to the pooled account. The pooled account shall be credited with any sums deducted from future benefits as provided in KRS § 341.415 and shall be credited to the pooled account, provided the benefits were charged to the pooled account by reason of KRS § 341.530(3), or paragraph (a) of this subsection. Except as provided in KRS § 341.415(1), if the benefits were charged to and paid by any employer making payments to the fund in lieu of contributions, the amount of the repayment or the sum deducted from future benefits shall be credited to the reimbursing account of that employer, and may upon written request from the employer be refunded without interest.
(3) One-half (1/2) of the benefits paid to an eligible worker in accordance with KRS
341.700 to 341.740 shall be charged against the pooled account, except that during a period in which federal payments to states under Section 204 of the Federal-State Extended Unemployment Compensation Act of 1970 are reduced under an order issued under Section 252 of the Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99-177), one-half (1/2) of the benefits paid to an eligible worker in accordance with KRS § 341.700 to KRS § 341.740, reduced by an amount equal to the difference of one-half (1/2) of the benefits paid to an eligible worker in accordance with KRS § 341.700 to KRS § 341.740 and the amount of the federal payment, shall be charged against the pooled account.
Effective: June 25, 2013
History: Amended 2013 Ky. Acts ch. 45, sec. 3, effective June 25, 2013. — Amended
1996 Ky. Acts ch. 266, sec. 19, effective July 15, 1996. — Amended 1986 Ky. Acts ch. 397, sec. 2, effective July 15, 1986. — Amended 1974 Ky. Acts ch. 74, Art. VI,
sec. 107(23). — Amended 1972 Ky. Acts ch. 21, sec. 33. — Amended 1966 Ky. Acts ch. 255, sec. 255. — Amended 1958 Ky. Acts ch. 4, sec. 13. — Amended 1950 Ky. Acts ch. 206, sec. 1. — Amended 1948 Ky. Acts ch. 216, sec. 22. — Recodified 1942
Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4748g-15.
(a) Payments received from the federal government under the provisions of Section 204(a)(1) of the “Federal-State Extended Unemployment Compensation Act of 1970,” and amendments thereto;
Terms Used In Kentucky Statutes 341.550
- Balanced budget: A budget in which receipts equal outlays.
- Benefits: means the money payments payable to a worker under this chapter and under any previous unemployment compensation law of this state with respect to his unemployment. See Kentucky Statutes 341.020
- Cabinet: means the Education and Labor Cabinet. See Kentucky Statutes 341.005
- Contributions: means the money payments, exclusive of interest and penalties, to the unemployment insurance fund required by this chapter and by any previous unemployment compensation law of this state. See Kentucky Statutes 341.020
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Fund: means the unemployment insurance fund established by KRS §. See Kentucky Statutes 341.020
- Pooled account: means a separate book account maintained by the cabinet under
KRS §. See Kentucky Statutes 341.040 - Reserve account: means a separate book account maintained by the cabinet for each subject contributing employer under KRS §. See Kentucky Statutes 341.040
(b) All realized earnings and gains on investments of the fund;
(c) Except as provided in KRS § 341.540, any balance remaining in the reserve account of any previously subject contributing employer after such employer has ceased to be subject to this chapter;
(d) Any payments into or amounts in the fund not allocable to any employer’s reserve account; and
(e) Any payments collected under subsection (2) of this section.
(2) (a) Except as provided in KRS § 341.530(4), any benefits paid through error which would otherwise have been chargeable to the reserve account of a contributory employer shall be charged against the pooled account. However, no employer making payments to the fund in lieu of contributions shall be relieved of charges by reason of this subsection.
(b) The repayment of benefits paid erroneously as provided in subsection (1) of KRS § 341.415 shall be credited to the pooled account. The pooled account shall be credited with any sums deducted from future benefits as provided in KRS § 341.415 and shall be credited to the pooled account, provided the benefits were charged to the pooled account by reason of KRS § 341.530(3), or paragraph (a) of this subsection. Except as provided in KRS § 341.415(1), if the benefits were charged to and paid by any employer making payments to the fund in lieu of contributions, the amount of the repayment or the sum deducted from future benefits shall be credited to the reimbursing account of that employer, and may upon written request from the employer be refunded without interest.
(3) One-half (1/2) of the benefits paid to an eligible worker in accordance with KRS
341.700 to 341.740 shall be charged against the pooled account, except that during a period in which federal payments to states under Section 204 of the Federal-State Extended Unemployment Compensation Act of 1970 are reduced under an order issued under Section 252 of the Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99-177), one-half (1/2) of the benefits paid to an eligible worker in accordance with KRS § 341.700 to KRS § 341.740, reduced by an amount equal to the difference of one-half (1/2) of the benefits paid to an eligible worker in accordance with KRS § 341.700 to KRS § 341.740 and the amount of the federal payment, shall be charged against the pooled account.
Effective: June 25, 2013
History: Amended 2013 Ky. Acts ch. 45, sec. 3, effective June 25, 2013. — Amended
1996 Ky. Acts ch. 266, sec. 19, effective July 15, 1996. — Amended 1986 Ky. Acts ch. 397, sec. 2, effective July 15, 1986. — Amended 1974 Ky. Acts ch. 74, Art. VI,
sec. 107(23). — Amended 1972 Ky. Acts ch. 21, sec. 33. — Amended 1966 Ky. Acts ch. 255, sec. 255. — Amended 1958 Ky. Acts ch. 4, sec. 13. — Amended 1950 Ky. Acts ch. 206, sec. 1. — Amended 1948 Ky. Acts ch. 216, sec. 22. — Recodified 1942
Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4748g-15.