U.S. DEPARTMENT OF LABOR
Employment and Training Administration
Washington, D. C. 20210

CLASSIFICATION

UI

CORRESPONDENCE SYMBOL

TEUFA

ISSUE DATE

August 6, 1998

RESCISSIONS

None

EXPIRATION DATE

August 6, 1999

DIRECTIVE

:

UNEMPLOYMENT INSURANCE PROGRAM LETTER NO. 39-98
 

TO

:

ALL STATE EMPLOYMENT SECURITY AGENCIES
 

FROM

:

GRACE A. KILBANE
Director
Unemployment Insurance Service
 

SUBJECT

:

Interest Rate on Title XII Advances During Calendar Year 1998

 

  1. Purpose. To announce the rate of interest the U.S. Treasury Department will charge on Title XII advances during calendar year 1998.

  2. Background. The criteria for establishing the rate of interest to be charged on Title XII advances during any calendar year are in Section 1202(b)(4) of the Social Security Act.

  3. Calendar Year 1998 Interest Rate. The U.S. Treasury Department has announced that the rate of interest to be charged for calendar year 1998 is 6.71 percent.

  4. Action Required. None.

  5. Inquiries. Direct questions to the appropriate Regional Office.