Maine: Officials approve largest reduction in workers' comp assessment since '93
Gov. John E. Baldacci and Paul R. Dionne, executive director of the Workers' Compensation Board, said the move reduced the assessment which funds the agency from $10.8 million to $7.35 million for a total reduction of $3.45 million. Last year the Workers' Compensation Board made a $3 million reduction.
Baldacci said the reduction was accomplished through a transfer from the Rehabilitation Fund of more than $1.1 million; salary savings from vacancies and shutdown days of $675,000; audits from prior fiscal years of $1.6 million; and miscellaneous savings of $60,000.
"A key goal of my administration during these challenging economic times has been to reduce the costs and burdens on Maine businesses," Baldacci said. "Working with the Maine Workers' Compensation Board and the Maine Legislature, we have been successful in keeping more valuable resources in the hands of businesses by reducing the workers' compensation assessment to employers of the state. This serves as a stimulus package to the Maine economy."
Dionne said the reduction in the comp assessment is a direct benefit to employers and should have a powerful effect on the state's economy.
"Overall, compensation rates have dropped 54 percent since 1993," he said. "These decreases have contributed to one of the more stable workers' compensation systems in the country."
Read more at the WorkersComp Forum homepage.
July 19, 2010
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