Title: Retrospective Ratings Program Regulations
Vote to pass a bill that requires the Department of Labor and Industries to conduct an annual actuarial review of the retrospective ratings program for five consecutive years beginning January 1, 2010, and requires groups participating in the program to obtain authorization from member employers to expend funds for costs unrelated to safety programs or other costs approved by this Act.
- Requires sponsoring entities to distribute retrospective rating refunds or adjustments to employers in the retrospective ratings group according to a distribution plan, except for a portion of the refund to be spent on the following (Sec. 4):
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.
Title: Retrospective Ratings Program Regulations