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Repayment of gen
eral fund advances.
(h) Temporary unemploy
(1958 act), repay
ment of advances to
2,128 7,496,557 -8,400
1,609 8,112,846 -8,000
New obligational authority (appropriation)
Total available for appropriation..
Unappropriated balance, end of year.
The financial transactions of the Federal-State and Railroad unemployment insurance systems are made through the Unemployment trust fund. In the FederalState system, benefit payments are made by each State, financed by special State payroll taxes. These tax receipts are deposited in the Unemployment trust fund and are invested in Government securities until needed for benefit payments. The expenses of State and Federal administration (including those of the Federal-State employment service), are paid from the fund out of revenue from the Federal unemployment tax, assessed on employers, of 0.4% of the first $3 thousand of wages.
Both the benefit payments and administrative expenses of the separate unemployment insurance program for railroad employees are paid from the Unemployment trust fund and receipts from the tax on wages of railroad employees are deposited in the fund to meet these expenses.
On June 30, 1964, the cash balance of $6,858,526 thousand was distributed as follows among the various accounts maintained in the fund (in thousands of dollars):
State unemployment trust accounts..
Railroad unemployment insurance account:
Benefits and refunds.......
Administrative expense account.
Employment Security Administration Account..
Federal unemployment account..
The trust funds consist of amounts received from employers for the death of an employee where no person is entitled to compensation for such death and for fines and penalty payments. In 1964 receipts were $12 thousand and interest was $22 thousand (33 U.S.C. 908; 31 U.S.C. 725; 33 U.S.C. 944).
Receipts are used to pay compensation in cases where judgment against employers cannot be satisfied by reason of insolvency or other circumstances precluding payment, to provide necessary medical, surgical and other treatment in disability cases where there has been default in furnishing such medical treatment by reason of the insolvency of the employers; for payment of additional compensation for second injuries resulting in permanent total disability and to provide maintenance for employees undergoing vocational rehabilitation. In addition, under the subactivity, Administration of rehabilitation, provision is made for the costs of necessary rehabilitation services not otherwise available to disabled longshoremen and harbor workers.
Object Classification (in thousands of dollars)