Assembly Advances NJAA Opposed Measure that Would Lead to Increased Workers’ Compensation Premiums

The Assembly voted 44-30 to approve S-929/A-1908, which imposes an increased cost on employers to fund an new cost-of-living adjustment (COLA) on workers’ compensation benefit rates for certain disability cases that have occurred since 1980. NJAA joined with a business coalition of businesses to oppose this measure. The bill would cost employers an $59.5 million annually, which would be generated by increasing the $223 million annual surcharge that New Jersey employers now pay into the Second Injury Fund, which is already the second highest in the nation. Despite the strong opposition, which resulted in the measure being pulled from two earlier Assembly voting sessions, the bill was approved. Click here for a copy of the coalition desk letter and click here for a copy of the bill as approved by the Assembly.