In his Decision on the September 1, 2021 WCIRB Regulatory Filing, the Commissioner approved the application of payroll limitations for the following seven classifications effective September 1, 2022:
As adopted in the Commissioner’s Decision on the September 1, 2022 Regulatory Filing, the payroll of employees in these classifications is limited for workers’ compensation premium purposes to a maximum of $149,500 per year. As a result, the approved September 1, 2022 advisory pure premium rates for these classifications reflect not only the typical year-to-year change in the classification’s pure premium rate relativity but also an additional adjustment factor to reflect the reduction in payroll due to implementation of the payroll limitation noted above. This payroll limitation adjustment factor is based on historical employee wage survey information published by the US Census Bureau and is intended to produce the same overall advisory pure premium by classification as if payrolls were not limited.
The September 1, 2021 and September 1, 2022 advisory pure premium rates, which reflect the adjustment intended to make the implementation of the payroll limitation pure premium neutral, for these classifications are as follows:
|Classification||9/1/2021 Pure Premium Rate||9/1/2022 Pure Premium Rate|
* Classification 8874 was established effective September 1, 2022.
The WCIRB has scheduled a free webinar to discuss the September 1, 2022 changes to classification advisory pure premiums including those of payroll limited classifications. Click on the registration link below to sign up.
Understanding Approved September 1, 2022 Pure Premium Rates
Tuesday, September 27, 2022, 10:00 AM – 11:00 AM PT