Self-insurers Guaranty Trust Fund; revise certain funded levels

Self-insured employers fund larger claim reserves

Georgia raises the fund balance needed to stop annual charges from $15 million to $25 million, after liabilities; employers must have paid at least three prior assessments. New participants still pay $8,000 initially; later annual charges equal 1.5% of the prior year's workers’ compensation benefits paid, with a $2,000 minimum and $8,000 maximum. Trustees may seek board-approved special charges when claims or administration costs push the balance below $10 million after liabilities, up from $5 million. Special charges follow the same calculation, apply only as needed to reach $5 million after liabilities, and have a separate $8,000 yearly cap per participant. These rules can keep participating self-insured employers paying longer while supporting the fund that backs workers’ compensation claims.