MI HB5483

Amends Michigan worker's compensation law by adding section 501b to authorize the director to assess private employer group self-insurers when remedies available under existing rules are insufficient to meet trust obligations.

Assessments may be imposed to secure payment of benefits and associated overhead and administrative expenses for which the private employer group self-insurers security fund (PEGSISF) may become responsible.

Assessments are apportioned among private employer group self-insurers based on each group's proportion of total paid losses from the prior year.

Assessment payments are made to the PEGSISF and take effect only if House Bills 5478, 5479, and 5480 from the 97th Legislature are also enacted into law.

Approved by the Governor on June 21, 2014 and effective June 27, 2014.