YOUR UNEMPLOYMENT COMPENSATION
You have probably received unem
ployment compensation at some time.
During the past year, 1, 029 employees
und former employees of Adams-Millis
Corporation were paid unemployment
claims ranging from $ 1.00 to $ 1, 092.
Have you ever stopped to think where
Hiis money comes from? Many people
think that the money comes from the
state or from the federal government.
The fact is that the money is paid into
the Employment Security Commission
North Carolina by Adams-Millis
Corporation and the other firms by
which you have been employed, and the
Employment Security Commission acts
s^sthe administering agent for your un
employment compensation.
Your company is taxed for unem
ployment compensation accordingto its
payroll and how much it has on reserve
deposit with the Employment Security
Commission, The present rate for
Adams-Millis Corporation is 1.3% for
each dollar each employee earns, up to
$3,600.
If there is little unemployment for
employees, our reserve builds up
^udour rate goes down;likewise, if there
is a great deal of short time, more
charges are made against our account
^ud our rate increases.
During the past fiscal year, there
"'^s paid to the employees of Adams-
Millis the sum of $69i608.93, which
charged against our reserve in
Haleigh.
If you have worked at more than one
place during your benefit year, your un-
^iiiployment compensation is based on
yciir total earnings for the year.
The Employment Security Program
established to pay unemployment in
surance fora limited time to unemploy
ed Workers who are unemployed through
*^0 fault of their own. In order to be
Migible for unemployment compensa-
lion, you must
1. be unemployed
2. be able to work
3. be available for work
4. look for work and accept
suitable work
You are not expected to look for work
when your plant is on short time and you
are filing for partial claim. A partial
claim is one which is filed for a week
in which you have worked less than 60%
of your scheduled week. A scheduled
week is recognized as 40 hours in the
hosiery industry except for those people
who are working on the third shift on a
regular 37^ hour week. Youarenot eli
gible for unemployment compensation
when you earn more than your ineligible
amount which has been determined by
your earnings during your benefit year.
Typical amounts paid to Adams-
Millis Corporation employees during
the last fiscal year are:
5.5. #240-03-7018 $1,042.00
5.5. #237-07-6027 61.00
5.5. #242-07-9334 990.00
5.5. #241-10-4342 9.00
5.5. #242-12-9892 24.00
Your unemployment compensation
is not taxable for income purposes, as
it is not considered wages earned.
The maximum amount that you can
receive during any benefit year is $32.00
per week; the number of weeks you can
be paid during a benefit year is 26 weeks
out of the 52 consecutive weeks.
Remember your unemployment
compensation is not a handout from your
state or federal government; it is paid
for by the company for which you work.
It is ,a direct cost of the production you
make, the same as the wages you are
paid for the work you do. Your employ
er not only pays to the state the money
you are paid, but also pays the state for
administering your unemployment com
pensation.
The average guy stops bragging a-
bout his college degree after he has tried
a couple of times to help his kids with
sixth grade arithmetic.