Workers Comp Redux

From: jcriemer@gmail.com <jcriemer@gmail.com>

Sent: Thursday, November 7, 2019 3:47 PM

To: execboard@folkproject.org

Subject: Moving Forward on Workers' Comp

Greetings, projectiles –

At the last meeting, we agreed to let the policy lapse when it runs out in early December. However, I’ve since gotten the paperwork related to our annual WC audit, and that puts a slightly different spin on things.

First, it requires that we let Liberty Mutual know in advance if we’re not going to continue the coverage. And it adds that they are “legally required” to notify the NJ Department of Labor if we drop it.

So I’m thinking we should contact the DOL ourselves, before we cancel. We can explain the reasons for our decision, thereby demonstrating good faith. Assuming they agree, we can breathe easy. If they don’t agree, we’ll still be in compliance and can avoid any fines or penalties. If we cancel mid-term, we’ll get a pro-rated portion of the premium back. So financially speaking, whether we cancel in early December or in early January makes little difference.

I’ll be making a motion to this effect at the next meeting: “I move that we contact the DOL regarding our intent to drop Workers Comp and wait for a response before actually cancelling the policy.” I think this is the most prudent way to move forward.

Talk to you next week.

Regards,

Chris

Chris Riemer

Treasurer

The Folk Project

www.folkproject.org