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WorkplaceNL’s 2016 Annual Report shows that for the second-year running, the organisation has achieved a funded position over the 110 per cent funding target set by the Board of Directors. This is a remarkable achievement when you consider the state of WorkplaceNL’s funded position just a decade ago. The hard work and proper management of the organization should be recognized.
However, since the organisation has exceeded its target of 110 per cent, CFIB recommends a refund of worker’s compensation premiums to employers, to help offset the growing costs of operating a business in the province. Newfoundland and Labrador needs job creation and a rebate on premiums will be a positive step forward. On behalf of you, our members, CFIB wrote to WorkplaceNL requesting a rebate to employers.
Question: Should WorkplaceNL rebate employers in the year when the board exceeds its funding target of 110%?