WCC Reduces MITF Assessment Rate from 7% to 6.29%

OKLAHOMA CITY — The Oklahoma Workers’ Compensation Commission (WCC) voted on April 24 to reduce the Multiple Injury Trust Fund (MITF) assessment on workers’ compensation coverage providers from 7% to 6.29%. This is the first reduction in five years, following the 2019 legislative authorization of a temporary emergency maximum rate to stabilize the fund after it was unable to meet its obligations to permanently disabled Oklahomans in late 2018.

The decision follows a comprehensive review of the prior year's total workers’ compensation premiums written to employers and actual paid losses of self-insured employers. The Commission determined that current fund conditions are healthy and support a reduction in the rate.

“This adjustment reflects an ongoing commitment to responsible fund management and transparency,” said Jordan Russell, Chair of the Oklahoma Workers’ Compensation Commission. “We are seeing the positive impact of the 2019 legislative reforms, which stabilized the MITF, reduced long-term liabilities, and ensured the MITF’s sustainability.”

The new, lower rate is good news for Oklahoma businesses and their employees, supporting growth, affordability, and expanded coverage options for Oklahomans.

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