N.Y. Comp. Codes R. & Regs. tit. 9 § 5.93

Current through Register Vol. 46, No. 25, June 18, 2024

Section 5.93 - Executive order no. 93: workers' compensation special funds study commission.the intent of executive order no. 93 is to revoke and supersede executive order no. 91 entitled "workers' compensation special funds study commission," dated february 25, 1999

WHEREAS, despite significant advances made through the 1996 New York Employment Safety and Security Act, workers' compensation rates and assessments still comprise a disproportionate share of the cost of doing business in New York State;

WHEREAS, special funds assessments constitute approximately six percent of the Workers' compensation premium paid by New York's employers;

WHEREAS, although special funds assessments have increased rapidly in recent years, some special funds still remain in a financially precarious position;

WHEREAS, the business and labor communities have long maintained that these public funds are costly and inefficient;

WHEREAS, it has been proposed that these funds could either be phased out or the funds could be restructured at a significant savings to the business and labor community;

NOW, THEREFORE, I, GEORGE E. PATAKI, Governor of the State of New York, by virtue of the authority vested in me by the Constitution and Laws of the State of New York, do hereby constitute the Workers'Compensation Special Funds Study Commission (the "Commission"). The Commission shall consist of seventeen members appointed by the Governor. The Commission shall review the purposes for which the funds were established, assess whether the funds are fulfilling their purposes, and examine the financial condition of the funds, including historical assessment patterns, payout patterns of the funds, and their unfunded ultimate liabilities.

The commissioner of labor, the superintendent of insurance, and the chair of the workers'compensation board shall serve as co-chairs of the Commission. The Governor shall appoint fourteen additional members as follows:

(i) the Executive Director of the State Insurance Fund;

(ii) the Commissioner of Taxation and Finance;

(iii) the Director of the Governor's Office of Regulatory Reform;

(iv) four representatives of organized labor appointed upon recommendation of the AFL-CIO;

(v) a representative of the business community appointed upon recommendation of the Business Council of New York State, Inc.;

(vi) a representative of small employers appointed upon recommendation of the National Federation of Independent Business;

(vii) a representative of workers' compensation insurers appointed upon recommendation of the Alliance of American Insurers;

(viii) a representative of workers' compensation insurers appointed upon recommendation of the American Insurance Association;

(ix) a representative of workers' compensation insurers appointed upon recommendation of the New York Insurance Association; and

(x) a representative of safety groups appointed upon recommendation of the Association of Safety Group Managers; and

(xi) a representative of self-insured employers appointed upon recommendation of the New York Self-Insurers Association.

The Commission shall:

(i) engage in public outreach in furtherance of the performance of its duties;

(ii) in consultation with the workers' compensation board, contract with a private consulting actuarial or accounting firm to prepare an analysis of the financial condition of the funds; and

(iii) make findings based upon information derived from the public outreach and the financial analysis of the funds and make recommendations consistent with its findings.

The Commission shall report its findings to the Governor no later than October 1, 1999. The members of the Commission shall receive no compensation but shall be entitled to reimbursement for any necessary expenses incurred in connection with the performance of their duties.

Every state department, agency, division, board, bureau, commission, and any other entity over which I have executive powers shall provide any assistance necessary for the Commission to carry out its duties.

Executive Order No. 92 entitled "Workers'Compensation Special Funds Study Commission" and dated March 1, 1999, is revoked and superseded by this Executive Order.

Signed: George E. PatakiDated: March 17, 1999

[FN*] The intent of Executive Order No. 93 is to revoke and supersede Executive Order No. 91 entitled "Workers' Compensation Special Funds Study Commission," dated February 25, 1999.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5.93