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Potential LI savings v2h page001

WSIADA members committed to a safe workplace can reduce the amount they pay the state in workers’ compensation insurance premiums. With the Group Retrospective Rating Program (Group Retro), you can actually get cash for getting safe.

What is Group Retro?

Group Retro is a safety incentive program. Through it, you can receive a partial refund on the workers’ compensation premiums you pay.

Group Retro is administered by approved associations through the Washington Department of Labor & Industries (L&I). WSIADA members can take advantage of it thanks to WSIADA’s partnership with the Washington Retail Association, the advocacy group for all Washington retailers.

Am I eligible for Group Retro?

If you’re (1) a WSIADA member (2) who has an account with L&I (3) that’s in good standing (your quarterly premiums are paid on time), then you’re eligible for Retro.

How does Group Retro save me money?

Once you’re in the program, you pay your worker’s comp premiums like you would anyway. Do it for three years while you reduce workplace injuries, and you can start getting Retro refunds.

If your Group does well, you do well. Essentially, you can get back a big chunk of the worker’s comp insurance premiums you’ll pay anyway. And your workplace gets safer, something you want anyway.

How much can I save?

Potentially, a lot. Check out the table on this page (if your premiums are less than what's there you can still enroll). 

So I get money for things I’m already doing? How does that even work?

Like any insurance setup, the premiums you pay to L&I are held in a fund. If an employee gets hurt, a claim is paid out of the fund. If you’re in a Retro group, that fund is looked at as a combined total from everyone in your group. If employees have a safer year with fewer L&I claims, then L&I refunds the difference.

Refunds are distributed to group-members proportionately, regardless of the loss record, meaning that even if you have a bad claim year you might still get a refund. And when refund time comes, you don’t have to do anything. Just sit back, enjoy your safer business, and the Retro group administrators at WRA will send you a check.

How do I sign up for Retro?

Since WSIADA members are eligible for Retro through the WRA, the WRA will take care of everything. Have your business’s legal name and your LNI account number handy and reach out to WRA’s Director of Business Development, Terry Hopsecger. Terry will analyze your workers comp risk, do a complete cost/benefit analysis customized for your business, and make sure you stand to benefit from Retro. Click here to email Terry or give her a call at 360-200-6453. She’ll help you out.

When can I sign up?

L&I only has four enrollment periods each year. The next is October 1, 2018, with a submission deadline of September 17, 2018, and the next isn’t until January. So This email address is being protected from spambots. You need JavaScript enabled to view it. or call 360-200-6453 ASAP and see how much your L&I taxes can be lowered.