Greetings from Fall Conference 2015!
The WSIA team is in the SeaTac area today with nearly 100 of our members and friends, hearing a great set of Fall Conference presentations on accident and disability prevention.
We'll be back with a full newsletter next Friday!
2016 State Fund rate increase announced - 2% overall, 6.25% supplemental pension assessment
On Wednesday, the Department of Labor & Industries formally proposed its 2016 rates for the State Fund. Although the Department forecasts a need for 1.1 percent more revenue next year to break even, it has proposed a 2 percent overall increase for State Fund employers, the difference going to further build the Department's insurance reserves. The component also paid by self-insurers, the supplemental pension fund assessment, is set to increase 6.25 percent in 2016, largely due to unforeseeable COLA expenses associated with the recent Crabb decision. Watch WSIA's blog in the coming days and next week's newsletter for a more in-depth analysis of the rate situation.
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