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.
*** New Rates Set for 2015 ***
2015 Assessment Rates
The Funding Commission has adopted the following assessment rates for calendar year 2015:
- All Employers Rate of 6.17%
- Additional Coal Rate of 5.18%
- Severed Coal Assessment of 4.92 cents per ton
Please be advised that all rates above have changed from the previous year.
2014 Assessment Rates
- All Employers Rate of 6.28%
- Additional Coal Rate of 2.54%
- Severed Coal Assessment of 2.54 cents per ton
Kentucky Workers' Compensation Funding Commission
42 Mill Creek Park
P.O. Box 1128
Frankfort, KY 40602-1128
(502) 573-3505 - Office
(502) 573-4923 - Fax