The Kentucky Workers' Compensation Funding Commission was created in 1987 for the purposes of controlling, investing, and managing the funds collected to support the Commonwealth's workers' compensation program. The Funding Commission is required to establish the annual assessment rates necessary to fund the various programs.
In addition to funding the payment of Special Fund liabilities, the Kentucky Coal Workers' Pneumoconiosis Fund, and the Uninsured Employers Fund, these assessments finance the administrative operations of the Funding Commission and all programs in the Kentucky Labor Cabinet except Employment Standards, Apprenticeship and Training, and Labor-Management Relations and Mediation.
The Funding Commission is governed by a Board of Directors consisting of seven members. Board members include the Secretaries of Labor, Economic Development, and Finance & Administration Cabinets. In addition, The Governor appoints four members who represent labor, insurance companies writing workers' compensation insurance, employers, and self-insured employers and groups.
||*** ATTENTION *** 2014 Assessment Rates Set
The Funding Commission has adopted the following assessment rates for calendar year 2014:
All Employers Rate of 6.28%
Additional Coal Rate of 2.54%
Severed Coal Assessment of 2.54 cents per ton
Please be advised that the coal rates above have changed from the previous year.
||2013 Assessment Rates
The Funding Commission adopted the following assessment rates for calendar year 2013:
All Employers rate of 6.28%
Additional Coal Rate of 0.0%
Severed Coal Assessment of 0.0 cents per ton
Although no assessments will be imposed on tons of coal severed in 2013, entities engaged in the severance of coal must still file Severed Coal Quarterly Reports to report tons of coal severed during each quarterly reporting period of 2013.
Kentucky Workers' Compensation Funding Commission
42 Millcreek Park
P.O. Box 1128
Frankfort, KY 40602-1128