Creates the retrospective rating program to increase workplace safety, prevent accidents, and improve worker outcomes. Allows and encourages retrospective rating group sponsoring entities to use retrospective rating refunds to create and maintain programs that improve workplace safety, prevent accidents, and improve worker outcomes while distributing the remainder of the refund to employer members of the group.

Makes information concerning the sponsoring entities' administration of the program publicly available, to restore public confidence in the use of retrospective rating funds.