Erin McGrath-Gaudet with the CFIB says that the board’s annual report showed it was again in a position of being significantly over-funded — meaning it has more than enough money set aside to pay out claims over the long-term as well as a healthy cushion.
The Canadian Federation of Independent Business in PEI is pleased with word that came from the Workers’ Compensation Board this week.
It says Island employers will not only be seeing a decrease in the average assessment rate in 2018 but will also see some of their premiums refunded for 2017.
She says with that in mind, CFIB felt it was important to see money going back to employers since they pay the full cost of the system.
In total, $21.4 million will be distributed to Island employers in November.