|(a) Each plan year the Office will calculate the total amount
to be collected from covered agencies to pay the aggregate costs of:
(1) workers' compensation losses; and
(2) the Office's risk management program.
(b) The office will commission an actuarial study each plan
year for the purpose of projecting the total amount of workers' compensation
losses which will be paid in the following plan year. The board of the State
Office of Risk Management (the Board) will set the amount to be collected
based on the actuarial study, with the goal of collecting an amount sufficient
to pay the expected losses.
(c) The total assessment will be the total of:
(1) the projected workers' compensation costs for the following
(2) any amount which the Office has borrowed in the previous
plan year for paying workers' compensation costs or any carryover of funds
from the previous plan year (expressed as a negative amount); and
(3) the cost of the Office's risk management program.