Unemployment Benefits Compensation
Determining your monetary compensation for unemployment benefits in Illinois is based on whether you meet wage eligibility criteria and work eligibility criteria. Approved unemployment compensation benefits for Illinois will come from the Illinois Department of Employment Security paid by employers during the time at which a claimant has worked for their company. These funds are put in a trust to be used when a claim is filed and accepted.
Calculating Illinois Unemployment Benefit Amounts
You can roughly estimate unemployment benefits by calculating half of your full time earnings, while keeping in mind that the maximum unemployment benefit amount an individual can receive in the state is $426 per week. From here, your Weekly Benefit Amount (WBA) and Maximum Benefit Amount (MBA) can easily be calculated.
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Determine Your Weekly Benefit Amount
Your Weekly Benefit Amount (WBA) in Illinois is 47 percent of your earnings in the two quarters with the highest pay from your base period and then dividing that amount by 26. As of 2016, the most an individual can receive is $426 weekly and the minimum amount is $51 weekly. The IDES provides a chart that can help you estimate your Weekly Benefit Amounts.
If you have dependents, Illinois will increase your WBA anywhere from $26 to $158 weekly. An additional $15 to $84 may be collected if you have a dependent spouse.
Example: If your highest two quarter earnings during your base period total $9,800, the state will then take 47 percent that amount ($4,606) and divide that by 26, which will equal weekly benefits of $177.15.
Determine Your Maximum Benefit Amount (MBA)
The Maximum Benefit Amount is the highest amount of unemployment benefits you can receive in any given benefit year. To determine your MBA, divide your total base period earnings by four.
Example: If your gross earnings were $25,500 in two calendar quarters, you would then take 47 percent of that total which equals $11,985 and then divide by 26 to get the weekly amount of $461. This amount is greater than the allotted weekly maximum benefit and you would receive only $426 per week or $11,076 in total for the allowed 26 weeks of unemployment.