kwcfc.ky.govKentucky Workers' Compensation Funding Commission
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kwcfc.ky.gov
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Title:Kentucky Workers' Compensation Funding Commission
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Kentucky Workers' Compensation Funding Commission Home About Us Overview History of the Funding Commission Board of Directors Staff Career Opportunities Board of Directors Meeting Documents Quarterly Assessment Reporting Overview Reporting Forms History of Assessment Rates E-File/E-Payment Statutes & Regulations Overview Statutes Regulations Annual Data Reporting Frequently Asked Questions Kentucky Workers' Compensation Funding Commission Welcome Main Content The Kentucky Workers' Compensation Funding Commission was created in 1987 for the purposes of controlling, investing, and managing the funds collected to support the Commonwealth's workers' compensation program. The Funding Commission is required to establish the annual assessment rates necessary to fund the various programs. In addition to funding the payment of Special Fund liabilities, the Kentucky Coal Workers' Pneumoconiosis Fund, and the Uninsured Employers Fund, these assessments finance the administrative operations of the Funding Commission and all programs in the Kentucky Labor Cabinet except Employment Standards, Apprenticeship and Training, and Labor-Management Relations and Mediation. The Funding Commission is governed by a Board of Directors consisting of seven members. Board members include the Secretaries of Labor, Economic Development, and Finance & Administration Cabinets. In addition, the Governor appoints four members who represent labor, insurance companies writing workers' compensation insurance, employers, and self-insured employers and groups. * * * E-FILE/E-PAY * * * KRS 342.122(2)(b) Beginning on January 1, 2020, all assessments shall be electronically remitted to the funding commission quarterly not later than the thirtieth day of the month following the end of the quarter in which the premium is received. Receipt shall be considered timely when filed and remitted using the appropriate electronic pay system as prescribed by the funding commission. Employers carrying their own risk and employers defined in KRS 342.630(2) shall pay the annual assessments in four (4) equal quarterly installments. Our Quarterly Premium Report Online System (E-File/E-Pay) provides companies with a secure, convenient, and fee-free option for assessment reporting and payment. For more details on the E-File/E-Pay system, please see the FAQs on our website or call 502-573-3505. File Your QPR Online IMPORTANT: When filing electronically, you must remit a corresponding EFT payment. Electronic reports in "Pending" status are not complete until electronic payment has been fully processed. *** 2020 Assessment Rate *** The KWCFC Board of Directors met at the regularly scheduled meeting on Wednesday, September 25, 2019 and set the following rates for 2020. All Employers Rate: 6.41% Coal Additional Rate: 0.00% Severed Coal Rate: $0.00 per ton *** FY 2020 Board Meeting Dates *** July 24, 2019 September 25, 2019 November 20, 2019 January 22, 2020 March 9, 2020 Special Meeting March 25, 2020 May 20, 2020 Office Contact Kentucky Workers' Compensation Funding Commission 42 Mill Creek Park Frankfort, KY 40601 (502) 573-3505 - Office (502) 573-4923 - Fax Contact Site Map...
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