Alaskans will be paying $89 million less for unemployment insurance next year, thanks to a move by the State Legislature earlier this year.
Governor Sean Parnell introduced the legislation to end automatic increases for the unemployment insurance fund when it is deemed solvent. The Governor said that as of March 15, the Alaska Unemployment Insurance Trust Fund had a balance of $257 million.
The estimate of $89 million in savings was released Monday by the Governor’s office. The unemployment insurance rate (which is shared 70-30 by employers and employees) is dropping next year from 3.32 percent to 2.59 percent.