HARRISBURG, Pa., June 13, 2013 /PRNewswire-USNewswire/ -- The National Federation for Unemployment Compensation and Workers' Compensation today presented Pennsylvania Department of Labor & Industry Secretary Julia Hearthway with its 2013 Unemployment Integrity Award at the 32nd National Unemployment Insurance Issues Conference in Arlington, Virginia.
The award is given to an individual who has demonstrated a commitment to preserving the integrity of the unemployment system.
"It is an honor to receive this award on behalf of Governor Corbett and the Commonwealth of Pennsylvania," Hearthway said. "It's because of the governor's leadership in the passage of Act 60 in 2012 that we restructured the state's UC system, restoring the fund to ensure that benefits will be available for years to come for those who need them."
Pennsylvania's unemployment compensation reform legislation, Act 60, was signed into law by Governor Tom Corbett in June 2012. Act 60 reforms were instrumental in shoring up Pennsylvania's unemployment compensation system and trust fund by restoring the Federal Unemployment Tax Act tax credit, which saved employers $220 million in 2012 alone.
The reforms also allowed Pennsylvania to repay all outstanding federal debt and secure permanent refinancing at a record-low 1.29 percent interest rate through a private bond market sale. Employers will save $150 million in interest over the life of the bonds.
"This is money that can be invested into the Pennsylvania economy," Hearthway said.
The National Foundation for Unemployment Compensation and Workers' Compensation, Inc. was founded in 1984 by UWC Strategic Services on Unemployment & Workers' Compensation. It helps individuals from industry, government, associations and other professions gain a keen understanding of the nation's unemployment insurance and workers' compensation laws.
Media contact: Sara Goulet, Labor and Industry, 717-787-7530.
SOURCE Pennsylvania Department of Labor & Industry