The New York Workers' Compensation Board hopes to put a system in place within the next two years to give financial strength ratings for the 80 self-insurance trusts it oversees, a board official said.
Its effort comes as 30 of the trusts have been placed in an under-funded category, and 12 of them have needed to charge their members a special assessment to make up shortfalls revealed by audits.
Mary Beth Woods, the board's director of licensing, said the letter-graded rating system would be used to reveal the strength of a fund that is classified as under-funded.
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