Grover Czech, Executive Director of the New Jersey Compensation, Rating & Inspection Bureau (Security Fund Representative)

Assessment Recoupment Provision - Rates & Premiums

Assessment Procedures - The New Jersey Security Fund does not assess by account or insolvency. The need for assessment is determined by formula. The formula is explained in the New Jersey Workers Compensation Law, 34:15-108. In the event that an assessment is required the Compensation Rating and Inspection Bureau determines a loading to include in the workers compensation premium rates to generate the necessary funds.