Maryland labor secretary flags long-term solvency risks, urges consideration of taxable wage-base changes In a Feb. 4 briefing, Secretary Wu told the Economic Matters Committee that Maryland's UI trust fund is above the AHCM solvency benchmark now but faces long-term decline without structural changes; she highlighted the low $8,500 taxable wage base (last updated 1992) and projected pressures from rising wages and potential recession.

Secretary Wu warns that Maryland's unemployment insurance trust fund is at risk of declining solvency unless urgent structural changes, including updating the outdated taxable wage base, are implemented.

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#MD #EconomicStability #WageReform #CitizenPortal #TrustFundSolvency

Work group reviews indexing Virginia's maximum weekly unemployment benefit to average wage A statutory work group chaired by Delegate Bennett Parker held its first meeting to study tying Virginia's maximum weekly unemployment benefit to the state's average weekly wage; national experts and a third-party review recommend a target near 50–55% and the group will analyze impacts on trust fund solvency and employer tax burdens.

Virginia is exploring a major shift in unemployment benefits, potentially tying them to the state's average wage—could this mean more support for those in need?

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#VA #CitizenPortal #TrustFundSolvency #VirginiaUnemployment #EconomicMetrics #WageIndexing