Assessments Lowered to Aid Coal Companies

The Kentucky Workers’ Compensation Funding Commission has set new assessment rates for calendar year 2017, retroactive to Jan. 1, following the legislature’s last-minute passage of a bill to sharply reduce workers’ compensation assessments on coal companies. The Coal Additional Assessment Rate is 14%, and the Severed Coal Assessment is 15 cents per ton. The All Employers Assessment Rate remains unchanged at 6.29%. Companies that have remitted payments at the prior rates of 49.5% for the Coal Additional Assessment Rate and 41.74 cents per ton for the Severed Coal Assessment...