Workers Compensation refund cheques coming for many P.E.I. employers
Some Island employers could soon be getting a cheque in the mail from the Workers Compensation Board of P.E.I. The board announced Friday that $13.2 million will be distributed to employers as part of a surplus.
WCB surplus means refund cheques coming later in November
Some Island employers could soon be getting a cheque in the mail from the Workers Compensation Board of P.E.I.
The board announced Friday that it would distribute $13.2 million to employers since it had a surplus.
The WCB is paid for by premiums charged to Island employers, as well as investment earnings.
It's mandated to have between 100 and 110 per cent of the money needed to cover current and future costs for injured workers, but the fund grew to 125 per cent in 2014.
That means active employers whose accounts are current will receive a cheque. If an employer has an overdue account, they will get a credit on their WCB account.
The surplus cheques will go out to eligible employers this month.