Tips and info

Quarterly Finance Tip

Q1 2008

Reserve account deposits were recently calculated for 2008 and mailed to all members. The amounts recommended were based on your previous three years of claims experience and any increases or decreases in your payroll. However, you know best whether you will have more or fewer separations in the coming year so it is important that you review the deposit amount with that information in mind.

If you anticipate having to do layoffs, you may want to increase your deposit. If, on the other hand, you know that your financial situation is now stable and your unemployment costs will be decreasing, the recommended deposit may be too much. In either situation, you can contact Jerry Hecker at jhecker@501c.com to request a review of the amount.

If you have questions about the reserving policy, feel free to contact Terri Oakley at 800-442-4867.