61-5-25. Employer's contribution rate--Rate schedule based on average high cost multiplier ratio.
If an employer has met the requirements of §61-5-24 on the computation date for the year, then the employer's contribution rate shall be the rate appearing in Column "A" on the same line the employer's reserve ratio appears in Column "B" of the rate schedule applicable to that year. The computation date for calendar year 2012 and each year thereafter is June thirtieth of the preceding year.
The rate schedule for each calendar year shall be determined based upon the South Dakota average high cost multiplier ratio. The average high cost multiplier ratio is calculated by dividing the amount in the unemployment compensation fund, as established by §61-4-1, as of June thirtieth of the preceding year, by the amount required in the unemployment compensation fund that equals the average high cost multiple of 1.0, as of December thirty-first of the last completed calendar year.
Schedule A is in effect for any calendar year when the South Dakota average high cost multiplier ratio is less than 1.60.
Schedule B is in effect for any calendar year when the South Dakota average high cost multiplier ratio is greater than or equal to 1.60.
For purposes of this section, the term, average high cost multiple, has the same meaning given in Code of Federal Regulations, title 20, section 606.3, as amended on September 17, 2010. An amount equal to an average high cost multiple of 1.0 is a federal measure of adequate reserves in relation to the state's current economy.
Source: SDC 1939, §17.0822 (2) (b) (1) as added by SL 1947, ch 89, §1; SL 1953, ch 76, §3; SL 1961, ch 106, §2; SL 1971, ch 277, §1; SL 1982, ch 371, §1; SL 1983, ch 381, §1; SL 1984, ch 334, §§2, 5; SL 1987, ch 387, §3; SL 2008, ch 277, §77; SL 2011, ch 225, §1; SDCL §61-5-18; SL 2012, ch 252, §59; SL 2017, ch 217, §1.