Discount Programs: Fund Contribution
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Risk Management Fund Contribution Discount Program
In an effort to reward proactive loss control practices by State entities,
the Risk Management Division has created a contribution discount program that
can result in a savings in the entity's required contribution to the Risk Management
Fund of up to 14% in non-seminar years and 16% in seminar years. Tort liability
risks associated with all State and agency operations are paid through the
Fund.
Contributions to the Fund are determined by an actuarial review of the financial
status of the Fund and of the loss history of the covered State entities.
Through the Fund Contribution Discount Program, the entities that can document
established
proactive loss control practices may realize substantial savings.
If the entity does not qualify for the entire discount at the time of its
first application, it may seek increased discounts up to the full percentage
as its
loss control practices evolve. Contributions will be billed on an annual
basis. Applications to establish a discount or to request an increased discount
must
be received by the Risk Management Division by May 1st of each year so that
it may be reviewed prior to the next billing cycle.
- Risk Management Fund Contribution Discount Program Application [SFN53424 Fillable] (88kb pdf)
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