Retrospective Payment Policy

Retrospective deposits and refunds have been subject to various payment policies over the years. The following table shows a history of the payment policy by program.

Retrospective Deposit
Payment Policy

Fiscal Year

Liability Program

Workers' Compensation

2008-09

Rolling retro: pay 1/8

Rolling retro: pay 1/8

2009-10

Rolling retro: pay 1/8

Rolling retro: pay 1/8

2010-11

No payment required

(Discounts offered for voluntary early payments)

2011-12

2012-13

2013-14

Payment plans start

No payment required

2014-15

 Full settlement

No payment required

2015-16

 Full settlement

 Payment plans start

2016-17

 Full settlement

 Full settlement

The overall intention of the payment policy since 2010-11 has been to gradually move both programs toward full settlement; meaning, retrospective deposits and/or refunds are to be settled in full on the first annual invoice following the publication of the retrospective adjustment. As a result of the gradual progression to full settlement, which includes optional payment plans, there may be new line items on your agency’s annual invoice from the Authority. Below is a list of the 4 line items that could potentially be on your agency’s invoice (within each program).

Invoice Line Item

What it Pays for

Annual Contribution

Coverage for the upcoming year

Retrospective Adjustment

Full settlement of current retro adjustment

Payment Plan Installment Fee

Financing fee

Payment Plan Installment
Principal

Pays down outstanding balance on all prior retro adjustments which were previously deferred

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