{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/60.2-533.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/60.2-533.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/60.2-533.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/60.2-533.html"}],"law_id":77201,"edition_id":1,"section_id":77201,"structure_id":13145,"section_number":"60.2-533","catch_line":"Fund balance factor","history":"1981, c. 606, \u00a7 60.1-85.1; 1986, c. 480; 1993, c. 249; 1996, c. 305; 1997, cc. 530, 674.","full_text":"A\n\nAs of July 1 of each calendar year, a fund balance factor, rounded to the nearest one-tenth of a percent, shall be determined as follows:\n\t\t\tThe net assets which shall be compared with the “adequate balance” as determined in subsection B of this section, shall be comprised of the balance which shall stand to the credit of the account of the Commonwealth of Virginia in the Unemployment Trust Fund in the Treasury of the United States; amounts withdrawn therefrom but not expended; employer payments not yet transferred to such account; net employer taxes receivable; and amounts due from claimants and other states, minus payables due to claimants, employers, other funds of the Virginia Employment Commission, and other states. The resulting percent shall be termed the “fund balance factor,” except that if the percent determined is less than fifty percent, the fund balance factor shall be fifty percent.B\n\nAs of July 1 of each calendar year, the Commission shall determine the “adequate balance” for the trust fund as follows:\n\t\t\tFor the twenty-year period ending July 1 of the year of determination, the highest ratios of benefits divided by total wages of three separate consecutive four-quarter periods shall be averaged and multiplied by 1.38 to determine the fund adequacy multiplier. The fund adequacy multiplier shall be multiplied by the total wages for the year in question to determine the “adequate fund balance” for that year.C\n\nA fund building rate of two-tenths percent shall be added to all experience rating rates established pursuant to § 60.2-531, and to all assigned tax rates established pursuant to §§ 60.2-515, 60.2-526, 60.2-527 and 60.2-538, except that such rate shall not be applied if the fund balance factor determined pursuant to subsection A of this section exceeds fifty percent.","order_by":null,"text":{"0":{"id":276937,"text":"As of July 1 of each calendar year, a fund balance factor, rounded to the nearest one-tenth of a percent, shall be determined as follows:\n\t\t\tThe net assets which shall be compared with the “adequate balance” as determined in subsection B of this section, shall be comprised of the balance which shall stand to the credit of the account of the Commonwealth of Virginia in the Unemployment Trust Fund in the Treasury of the United States; amounts withdrawn therefrom but not expended; employer payments not yet transferred to such account; net employer taxes receivable; and amounts due from claimants and other states, minus payables due to claimants, employers, other funds of the Virginia Employment Commission, and other states. The resulting percent shall be termed the “fund balance factor,” except that if the percent determined is less than fifty percent, the fund balance factor shall be fifty percent.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":276938,"text":"As of July 1 of each calendar year, the Commission shall determine the “adequate balance” for the trust fund as follows:\n\t\t\tFor the twenty-year period ending July 1 of the year of determination, the highest ratios of benefits divided by total wages of three separate consecutive four-quarter periods shall be averaged and multiplied by 1.38 to determine the fund adequacy multiplier. The fund adequacy multiplier shall be multiplied by the total wages for the year in question to determine the “adequate fund balance” for that year.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":276939,"text":"A fund building rate of two-tenths percent shall be added to all experience rating rates established pursuant to § 60.2-531, and to all assigned tax rates established pursuant to §§ 60.2-515, 60.2-526, 60.2-527 and 60.2-538, except that such rate shall not be applied if the fund balance factor determined pursuant to subsection A of this section exceeds fifty percent.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13145,"edition_id":1,"name":"Computation of Tax Rate","identifier":"4","label":"article","depth":3,"order_by":1,"parent_id":13052,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":267753,"object_type":"structure","relational_id":13145,"identifier":"4","token":"60.2\/5\/4","url":"\/60.2\/5\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13052,"edition_id":1,"name":"Taxation","identifier":"5","label":"chapter","depth":2,"order_by":1,"parent_id":12883,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":267633,"object_type":"structure","relational_id":13052,"identifier":"5","token":"60.2\/5","url":"\/60.2\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12883,"edition_id":1,"name":"Unemployment Compensation","identifier":"60.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":267273,"object_type":"structure","relational_id":12883,"identifier":"60.2","token":"60.2","url":"\/60.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":79525,"structure_id":13145,"section_number":"60.2-525","catch_line":"Statement of employer's benefit charges and taxes","url":"\/60.2-525\/","token":"60.2\/5\/4\/60.2-525","metadata":false},{"id":84523,"structure_id":13145,"section_number":"60.2-526","catch_line":"General provisions","url":"\/60.2-526\/","token":"60.2\/5\/4\/60.2-526","metadata":false},{"id":61763,"structure_id":13145,"section_number":"60.2-527","catch_line":"Tax rate of certain foreign contractors","url":"\/60.2-527\/","token":"60.2\/5\/4\/60.2-527","metadata":false},{"id":60511,"structure_id":13145,"section_number":"60.2-528","catch_line":"Individual benefit charges","url":"\/60.2-528\/","token":"60.2\/5\/4\/60.2-528","metadata":false},{"id":79689,"structure_id":13145,"section_number":"60.2-528.1","catch_line":"Charging of benefits relating to certain overpayments; penalty for pattern of failure to respond to requests for information","url":"\/60.2-528.1\/","token":"60.2\/5\/4\/60.2-528.1","metadata":false},{"id":73637,"structure_id":13145,"section_number":"60.2-529","catch_line":"Employer's benefit charges","url":"\/60.2-529\/","token":"60.2\/5\/4\/60.2-529","metadata":false},{"id":81848,"structure_id":13145,"section_number":"60.2-530","catch_line":"Benefit ratio","url":"\/60.2-530\/","token":"60.2\/5\/4\/60.2-530","metadata":false},{"id":70511,"structure_id":13145,"section_number":"60.2-531","catch_line":"Experience rating tax; table","url":"\/60.2-531\/","token":"60.2\/5\/4\/60.2-531","metadata":false},{"id":54592,"structure_id":13145,"section_number":"60.2-532","catch_line":"Pool cost charges","url":"\/60.2-532\/","token":"60.2\/5\/4\/60.2-532","metadata":false},{"id":77201,"structure_id":13145,"section_number":"60.2-533","catch_line":"Fund balance factor","url":"\/60.2-533\/","token":"60.2\/5\/4\/60.2-533","metadata":false},{"id":54171,"structure_id":13145,"section_number":"60.2-534","catch_line":"Tax rate defined","url":"\/60.2-534\/","token":"60.2\/5\/4\/60.2-534","metadata":false},{"id":82899,"structure_id":13145,"section_number":"60.2-535","catch_line":"Employing unit acquiring business, etc., of another employing unit","url":"\/60.2-535\/","token":"60.2\/5\/4\/60.2-535","metadata":false},{"id":55341,"structure_id":13145,"section_number":"60.2-536","catch_line":"Review of decision under \u00a7 60.2-535","url":"\/60.2-536\/","token":"60.2\/5\/4\/60.2-536","metadata":false},{"id":80870,"structure_id":13145,"section_number":"60.2-536.1","catch_line":"Transfers for the purpose of obtaining a lower unemployment compensation tax rate; assignment of rates","url":"\/60.2-536.1\/","token":"60.2\/5\/4\/60.2-536.1","metadata":false},{"id":69818,"structure_id":13145,"section_number":"60.2-536.2","catch_line":"Advisory opinion by the Commission","url":"\/60.2-536.2\/","token":"60.2\/5\/4\/60.2-536.2","metadata":false},{"id":71778,"structure_id":13145,"section_number":"60.2-536.3","catch_line":"Violations; penalties","url":"\/60.2-536.3\/","token":"60.2\/5\/4\/60.2-536.3","metadata":false},{"id":70450,"structure_id":13145,"section_number":"60.2-536.4","catch_line":"Interpretation","url":"\/60.2-536.4\/","token":"60.2\/5\/4\/60.2-536.4","metadata":false},{"id":87449,"structure_id":13145,"section_number":"60.2-536.5","catch_line":"Definitions","url":"\/60.2-536.5\/","token":"60.2\/5\/4\/60.2-536.5","metadata":false},{"id":73933,"structure_id":13145,"section_number":"60.2-537","catch_line":"Reduced tax rate permissible under federal amendment","url":"\/60.2-537\/","token":"60.2\/5\/4\/60.2-537","metadata":false},{"id":78500,"structure_id":13145,"section_number":"60.2-538","catch_line":"Where employer's taxes are delinquent","url":"\/60.2-538\/","token":"60.2\/5\/4\/60.2-538","metadata":false}],"previous_section":{"id":54592,"structure_id":13145,"section_number":"60.2-532","catch_line":"Pool cost charges","url":"\/60.2-532\/","token":"60.2\/5\/4\/60.2-532","metadata":false},"next_section":{"id":54171,"structure_id":13145,"section_number":"60.2-534","catch_line":"Tax rate defined","url":"\/60.2-534\/","token":"60.2\/5\/4\/60.2-534","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/60.2-533\/","history_text":"

This law was first created in 1981. The record of its establishment is cataloged in chapter 606 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1981 \u201cActs\u201d aren\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 480; in 1993, chapter 249; in 1996, chapter 305<\/a>; in 1997, chapters 530<\/a> and 674<\/a>.<\/p>","references":[{"id":66996,"section_number":"60.2-506","catch_line":"Financing of benefits to state employees","order_by":null,"url":"\/60.2-506\/"},{"id":63537,"section_number":"60.2-507","catch_line":"Financing of benefits to employees of governmental entities","order_by":null,"url":"\/60.2-507\/"},{"id":75938,"section_number":"60.2-507.1","catch_line":"Financing of benefits to employees of Indian tribes","order_by":null,"url":"\/60.2-507.1\/"},{"id":70511,"section_number":"60.2-531","catch_line":"Experience rating tax; table","order_by":null,"url":"\/60.2-531\/"}],"refers_to":[{"id":67512,"section_number":"60.2-515","catch_line":"Amount of taxes; increase of rate","order_by":null,"url":"\/60.2-515\/"},{"id":84523,"section_number":"60.2-526","catch_line":"General provisions","order_by":null,"url":"\/60.2-526\/"},{"id":61763,"section_number":"60.2-527","catch_line":"Tax rate of certain foreign contractors","order_by":null,"url":"\/60.2-527\/"},{"id":70511,"section_number":"60.2-531","catch_line":"Experience rating tax; table","order_by":null,"url":"\/60.2-531\/"},{"id":78500,"section_number":"60.2-538","catch_line":"Where employer's taxes are delinquent","order_by":null,"url":"\/60.2-538\/"}],"permalink":{"id":267791,"object_type":"law","relational_id":77201,"identifier":"60.2-533","token":"60.2\/5\/4\/60.2-533","url":"\/60.2-533\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/60.2-533\/","token":"60.2\/5\/4\/60.2-533","dublin_core":{"Title":"Fund balance factor","Type":"Text","Format":"text\/html","Identifier":"\u00a7 60.2-533","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As of July 1 of each calendar year, a fund balance factor, rounded to the nearest one-tenth of a percent, shall be determined as follows:\n\t\t\tThe net assets<\/span> which shall be compared with the “adequate balance” as determined in subsection B of this section, shall be comprised of the balance which shall stand to the credit of the account of the Commonwealth of Virginia in the Unemployment Trust Fund in the Treasury of the United States; amounts withdrawn therefrom but not expended; employer payments not yet transferred to such account; net employer taxes receivable; and amounts due from claimants and other states, minus payables due to claimants, employers, other funds of the Virginia Employment Commission, and other states. The resulting percent shall be termed the “fund balance factor,” except that if the percent determined is less than fifty percent, the fund balance factor shall be fifty percent. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> As of July 1 of each calendar year, the Commission shall determine the “adequate balance” for the trust fund as follows:\n\t\t\tFor the twenty-year period ending July 1 of the year of determination, the highest ratios of benefits divided by total wages of three separate consecutive four-quarter periods shall be averaged and multiplied by 1.38 to determine the fund adequacy multiplier. The fund adequacy multiplier shall be multiplied by the total wages for the year in question to determine the “adequate fund balance” for that year. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A fund building rate of two-tenths percent shall be added to all experience rating rates established pursuant to § 60.2-531<\/a>, and to all assigned tax rates established pursuant to §§ 60.2-515<\/a>, 60.2-526<\/a>, 60.2-527<\/a> and 60.2-538<\/a>, except that such rate shall not be applied if the fund balance factor determined pursuant to subsection A of this section exceeds fifty percent. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFUND BALANCE FACTOR (\u00a7 60.2-533)\n\nA. As of July 1 of each calendar year, a fund balance factor, rounded to the\nnearest one-tenth of a percent, shall be determined as follows:\n\t\t\tThe net assets which shall be compared with the “adequate\nbalance” as determined in subsection B of this section, shall be comprised\nof the balance which shall stand to the credit of the account of the\nCommonwealth of Virginia in the Unemployment Trust Fund in the Treasury of the\nUnited States; amounts withdrawn therefrom but not expended; employer payments\nnot yet transferred to such account; net employer taxes receivable; and amounts\ndue from claimants and other states, minus payables due to claimants, employers,\nother funds of the Virginia Employment Commission, and other states. The\nresulting percent shall be termed the “fund balance factor,” except\nthat if the percent determined is less than fifty percent, the fund balance\nfactor shall be fifty percent.\n\nB. As of July 1 of each calendar year, the Commission shall determine the\n“adequate balance” for the trust fund as follows:\n\t\t\tFor the twenty-year period ending July 1 of the year of determination, the\nhighest ratios of benefits divided by total wages of three separate consecutive\nfour-quarter periods shall be averaged and multiplied by 1.38 to determine the\nfund adequacy multiplier. The fund adequacy multiplier shall be multiplied by\nthe total wages for the year in question to determine the “adequate fund\nbalance” for that year.\n\nC. A fund building rate of two-tenths percent shall be added to all experience\nrating rates established pursuant to § 60.2-531, and to all assigned tax\nrates established pursuant to §§ 60.2-515, 60.2-526, 60.2-527 and\n60.2-538, except that such rate shall not be applied if the fund balance factor\ndetermined pursuant to subsection A of this section exceeds fifty percent.\n\nHISTORY: 1981, c. 606, \u00a7 60.1-85.1; 1986, c. 480; 1993, c. 249; 1996, c. 305;\n1997, cc. 530, 674.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}