Virginia sets its 2020 contribution rates

By Payroll and Entitlements Editorial Staff

For 2020, the fund balance factor is 85%. There is no pool cost charge nor is there a fund building charge this year. For 2020, rates range from 0.10% to 6.20%. The new employer rate is 2.50%. In 2020, foreign contractors and delinquent and nonrated employers pay 6.20% (VEC Communication).

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