The average weekly benefits growth is equal to the ratio of the average weekly benefits in the projection year to the previous year’s average weekly benefits, minus 1.
The average weekly benefits in the projection year are calculated as the sum of the following:
- The previous year’s average weekly benefits for claimants with insurable earnings above the maximum insurable earnings (referred to MIE), multiplied by the percentage of benefit weeks for claimants in the projection year with insurable earnings above the MIE, and multiplied by the ratio of the MIE in the projection year to the prior year’s MIE.
- The previous year’s average weekly benefits for claimants with insurable earnings below the MIE, multiplied by the percentage of benefit weeks for claimants in the projection year with insurable earnings below the MIE, and multiplied by the ratio of the average weekly earnings in the projection year to the prior year’s average weekly earnings.
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