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. In addition, 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 four funds—Special Fund, Coal Workers' Pneumoconiosis Fund, Self-Insurance Fund, and the Southeast Coal Restoration Fund.
The Funding Commission works closely with several state agencies in the administration of Kentucky's workers' compensation program. The Department of Workers’ Claims is the agency primarily charged with the administration of the Kentucky program. This department administers benefits for both the Special Fund and the Coal Workers' Pneumoconiosis Fund. 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 Labor Cabinet.