2013 New York Consolidated Laws
WKC - Workers' Compensation
Article 2 - (9 - 35) COMPENSATION
15-A - Assessment on insolvent group self-insured trusts.

 
    §  15-a.  Assessment  on  insolvent  group  self-insured  trusts.  The
  legislature finds that in lieu of the assessments under sections fifteen
  and one hundred fifty-one of  this  chapter  that  shall  no  longer  be
  imposed  on  closed group self-insured trusts as a result of the chapter
  of the laws of two thousand eleven which added this section, the members
  of group self-insured trusts that were insolvent upon closing, and  that
  fail  to  pay  their  obligations  within  the periods specified by this
  section, shall be subject to a one  time  assessment  pursuant  to  this
  section.  Within thirty days of January first, two thousand sixteen, all
  employers who were members of a closed group self-insured trust that was
  insolvent at the time the group  was  closed  shall  be  subject  to  an
  assessment under this section, except for those employers that: (1) have
  entered into a settlement agreement or payment plan with the board under
  which they have agreed to resolve all liabilities from the membership in
  such  trust,  and remain current in their payments; (2) are members of a
  group  self-insurer  that  has  transferred  all  of   its   liabilities
  transferred  via  a loss portfolio transfer; or (3) have paid all moneys
  billed them by the board  at  the  time  such  assessment  is  due.  For
  purposes  of  this  section,  insolvent means the inability of a private
  group self-insured trust to pay its outstanding lawful obligations under
  this chapter as they mature in the regular course of business, as may be
  shown  by:  (i)  the  self-insurer  being  underfunded  as  defined   in
  subdivision  three-a  of section fifty of this chapter; and (ii) the sum
  of the group self-insured trust's assets, as defined  by  regulation  of
  the  chair,  plus  the  available  security  deposit  held  by the chair
  pursuant to subdivision three-a of section fifty  of  this  chapter  and
  regulation  of  the  chair, being less than the total cost of all of the
  group   self-insured   trust's   anticipated    workers'    compensation
  liabilities,  as  defined  by board regulations, that will accrue within
  the succeeding six  months.  The  total  of  such  assessment  shall  be
  determined  by  the percentage of the assessment levied on all employers
  under subdivision eight of  section  fifteen  of  this  article  in  two
  thousand  ten that was levied on group self-insured trusts multiplied by
  the total amount of the employer's unpaid pro rata share of any  deficit
  owed  by  the  closed group self-insured employer of which such employer
  was a member, as determined by the chair. The amount  received  on  such
  assessment shall be used as an offset against the assessments imposed on
  other  employers  under  subdivision  eight  of  section fifteen of this
  article and section  one  hundred  fifty-one  of  this  chapter  in  the
  calendar year following the year in which it was received.