ACCG Workers’ Compensation Fund Members Receive Second $4 Million Cash Dividend
During the last week of February, checks totaling $4 million were mailed to eligible ACCG Workers’ Compensation Fund (ACCG-GSIWCF) members as a result of the discontinuance of a mandatory state program designed to encourage employers to rehire injured and disabled workers. The members who received a check in 2020 should receive their 2021 check in the same amount no later than mid-March.
The Georgia Subsequent Injury Trust Fund (SITF) had been in place since 1977. While the program was eliminated, it continues to reimburse insurers of qualifying workers’ compensation claims with injury dates through 2006. The obligation to pay these claims was funded through assessments of all workers’ compensation insurance providers in Georgia, including the ACCG-GSIWCF.
In 2019, the SITF announced that actuarial reports indicated they had enough money in reserve to satisfy its obligations and assessments were suspended indefinitely. The ACCG-GSIWCF had approximately $8 million in reserve to pay future assessments, and the Board of Trustees elected to return $8 million to the members who had paid into the SITF through the ACCG-GSIWCF program. The return was to be made in two equal installments in 2020 and 2021.
ACCG-GSIWCF is a member-owned, group self-insurance fund, which was started in 1982. The pool provides workers’ compensation coverage for Georgia counties and authorities. McDuffie County Commissioner Fred Favors serves as Chairman of the ACCG-GSIWCF Board of Trustees. The Fund currently has 170 members, consisting of 134 counties and 36 authorities.
For information on the ACCG Insurance Programs, please contact Joe Dan Thompson at 404-522-5022.