The administrator of workers' compensation, with the advice and consent of the bureau of workers' compensation board of directors, has authority to establish factors for the purpose of implementing the procedure for self-insurance buy-outs. The administrator hereby adopts factors to establish the liability of a private employer or a public taxing district employer requesting to transfer from state insurance fund coverage to self-insurance with the buy-out calculated upon the pure premium paid by the employer on payroll for a seven calendar year period, as provided in paragraph (L) of rule 4123-19-03 of the Administrative Code. The factors indicated in attached appendix A shall apply to appropriate applications filed on or after July 1, 1998.
Calendar Year - Buyout Percentage: Private Employers - Buyout Percentage: Public Employer Taxing Districts
For all seven years of buy-out calculation - 0.0 % - 0.0 %
Promulgated Under: 111.15
Statutory Authority: 4121.12 , 4121.121
Rule Amplifies: 4121.12 , 4123.14 , 4123.35
Prior Effective Dates: 7/1/90; 7/1/91; 7/1/92; 11/23/92; 2/22/93; 7/1/93; 7/1/94; 7/1/95; 7/1/96; 7/1/97; 7/1/98