The mission of the Funding Commission is to provide fiduciary management of the Special Fund and establish annual assessment rates through 2029 to provide level funding to retire the pre-1996 claim liabilities. The Funding Commission is an independent, quasi-governmental agency attached to the Education and Labor Cabinet for adminstrative purposes only. The Funding Commission reports periodically to the General Assembly on the actuarial soundness of the funding plan and the necessary assessments to achieve its goals.
Reserve Fund Management
In its fiduciary role, the Funding Commission is responsible for the management of the investment portfolio for several restricted funds designated for payment of workers' compensation claims. Currently, the Funding Commission manages the Special Fund and the Self-Insurance Fund.
Related Agencies
The Funding Commission works closely with several state agencies in the administration of Kentucky's workers' compensation program, primarily the Department of Workers’ Claims. Also, the Kentucky Occupational Safety and Health Program provides enforcement, standards promulgation, consulting and training services for Kentucky employers. These agencies are all attached to the Kentucky Education and Labor Cabinet.