WACA Retro Program
Washington Aggregates & Concrete Association Information
Founded in 1959, The Washington Aggregates & Concrete Association (WACA) is a non profit industry trade association representing sand, gravel, quarry rock, cement, ready mix concrete, related business and suppliers in Washington State. One of the member benefits is the workers' compensation retrospective rating program (Retro). The WACA Retro Program was specifically designed with the members' interest in mind, not the Association's. Refunds are distributed based on company size and performance. 25% of the overall refund id distributed to members based off their company's premium size and the remaining 75% is distributed based off individual performance.
How Does the WACA Retro Program Work? - L&I tracks the group members' premium and claims costs during a twelve month period of time known as a Plan Year
- L&I makes the 1st Adjustment Refund Calculation 10 months after the end of the Plan Year by subtracting the group members' actuarial adjusted claims from their retro premiums
- L&I makes the 2nd Adjustment Refund Calculation 22 months after the end of the Plan Year by subtracting the group members' actuarial adjusted claims from their retro premiums
- L&I makes the 3rd and Final Refund Calculation 34 months after the end of the Plan Year by subtracting the group members' actuarial adjusted claims from their retro premiums
What Are The Risks? Retro is not without risk. If the group's actuarial adjusted claims exceed the group's retro premiums then the group members may be assessed additional premium, up to a predetermined amount. The WACA Retro program's assessment is limited to 15% of the members' plan year premium. The Association manages this risk by enforcing the group's strict underwriting criteria, proper program management, and aggressive claims management. Additionally, WACA offers assistance and training on safety and health to help mitigate workplace injuries. For more information on WACA Retro, contact Craig Smith at casmith@ernwest.com or (800) 433-7601 ext. 15.
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