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Bulletin No. 1483
Financing Supplemental Unemployment Benefit Plans
UNITED STATES DEPARTMENT OF LABOR W. Willard Wirtz, Secretary BUREAU OF LABOR STATISTICS P
Arthur M. Ross, Commissioner
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Financing
Supplemental Unemployment Benefit Plans
Bulletin No. 1483 May 1966
UNITED STATES DEPARTMENT OF LABOR W. Willard Wirtz, Secretary BUREAU OF LABOR STATISTICS Arthur M. Ross, Commissioner
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Preface This bulletin provides a review of the financial c h a ra c te ristic s and recen t operations of supplem ental unem ploym ent benefit (SUB) plans. The analysis w as con ducted on two levels, the f irs t involving com piling w orker coverage and selected financial sta tistic s for the period 1960—63, and the second an analysis of SUB experience to determ ine and ap p raise the nature of plan operations. The in terrelatio n sh ip s betw een benefit experience and other financial item s, such as contributions and fund a sse ts, w ere of p a rtic u la r in te re st. The in itial im petus for this study w as provided by the U.S. D epartm ent of Health, Education, and W elfare. The data w ere obtained from financial re p o rts filed by SUB plan ad m in istra to rs w ith the D epartm ent of L ab o r's Office of L abor-M anagem ent and W elfare-P en sion R eports. A lim ited am ount of additional inform ation w as obtained from a few com panies and unions. BLS is grateful for the cooperation and a ssista n ce received from these p a rtie s. R eaders in te re ste d in the detailed provisions of SUB plans a re re fe rre d to a recen t BLS study, M ajor C ollective B argaining A greem ents: Supplem ental U nem ploym ent B en efit P lan s and W age-Em ploym ent G uarantees (BLS B ulletin 1425-35 — one of a se rie s analyzing collective bargaining provisions in detail. This bulletin w as p rep ared by E m erso n B eier, a ssiste d by H arry E. Davis and R obert C. Jo in er, under the supervision of Donald M. Landay, in the B u reau 's D ivi sion of Indu strial and Labor R elations, Joseph W. Bloch, Chief, under the general direction of L. R. L insenm ayer, A ssistan t C om m issioner, Office of Wages and In d u strial R elations.
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Contents In tro d u c tio n ________________________________________________________________________ T he SUB p l a n ______________________________________________________________________ Scope and m e th o d ______________________________________________________________ C o v e ra g e ___________________________________________________________________________ F unding a rra n g e m e n ts _____________________________________________________________ C o n trib u tio n s ______________________________________________________________________ In v e stm e n t in co m e_________________________________________________________________ D isb u rse m e n ts_____________________________________________________________________ B e n e fits_________________________________________________________________________ O th er p lan d is b u rs e m e n ts _____________________________________________________ A s s e ts ______________________________________________________________________________
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A ppendix. Scope and m ethod of stu d y ___________________________________________
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T a b le s : 1.
C o n trib u tio n s, b e n e fits, and a s s e ts of SUB p la n s, by type of funding, 1960—63____________________________________________________ 2. C o n trib u tio n s, b e n e fits, and a s s e ts of SUB p la n s, by in d u stry , 1960—63_____________________________________________________ 3. C o n trib u tio n s, b e n e fits, and a s s e ts of SUB p la n s, by union, 1960—63_________________________________________________________ 4. A v erag e y e a rly e x p en ses c h a rg ed to SUB funds on a p e r em ployee b a s is , by type of ex p en ses p aid , 1960—63____________________________
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Financing Supplem ental U nem ploym ent Benefit Plans, 1960—63 In tro d u ctio n B oth p u b lic and p r iv a te b e n e fit p ro g ra m s aid in red u cin g the im p a c t of te m p o r a r y and lo n g - te r m w o rk lo s s . The n ation w id e, S ta te -a d m in is te re d u n e m p lo ym en t in s u ra n c e s y s te m p ro v id e s te m p o r a r y fin a n c ia l a s s is ta n c e th ro u gh the p a ym en t of w e e k ly b e n e fits . Its p r iv a te c o u n te rp a rt is the su p p le m e n ta l u n e m , p lo ym en t b e n e fit (SUB) p lan . T h e ir com m on o b je c tiv e is fu rth e rin g the s ta b ility
