1292-S.E AMS HAUG BRUM 012

ESHB 1292 - S AMD - 475

    By Senators Haugen, Rasmussen, Haugen, Winsley and Goings

    On page 1, line 7, after "(1)" insert "(a)"

    On page 1, after line 13, insert the following:

    "(b) Retrospective rating plan groups shall submit to the department a yearly financial statement that shall include the yearly amount of money refunded by the department, the amount of the money returned to each employer, the administrative costs associated with the administration of a retrospective rating program, and the amount of money spent on related safety training.  A copy of the yearly financial statement sent by retrospective rating plan groups to the department must also be sent to each employer member of the group that requests it. Each employer member must be informed that they have the right to the yearly financial statement.  The yearly financial statement required under the provisions of this section and information contained therein shall be deemed confidential and shall not be open to public inspection or public disclosure under RCW 42.17 other than to employees of the department in the performance of their official duties.  No financial statement obtained pursuant to this section shall be the basis for an audit or inspection of records under RCW 51.48.040, but the financial statements may be used in the aggregate by the department for analysis of retrospective rating plan outcomes."

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Effect: Provides the department, and retro group employers that request it, financial information on the use of retrospective rating program refunds.  Such information is not subject to public inspection and is not to be the basis for a financial  audit but may be used in the aggregate for a study of the retro program.