SB 672 - This act stipulates that no workers' compensation insurance policy shall be approved by the Department of Commerce and Insurance if, when determining the premium to be paid by an employer, the insurer includes as part of the employer's payroll the following: • Monetary bonuses, paid by such employer to an employee, of up to three percent of the employee's yearly compensation from such employer; or
• Contributions made by the employer to an employee's individual retirement account.
This act is substantially similar to SB 71 (2019) and SB 735 (2018).
SCOTT SVAGERA