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Finance Department Overview

The Commission's Finance Department is responsible for handling all financial transactions flowing through the Commission. The Department also handles the Commission's annual budget and revenue collections.

The Commission is financed primarily from assessments on workers' compensation premiums collected by insurance companies and on a calculated premium for self-insured employers based upon payroll.

Assessment rates for 2013 were 2.25% for the Administrative Fund and 0.35% for the Uninsured Employer's Fund for a total assessment rate of 2.60%

Assessment rates for 2014 are 2.50% for the Administrative Fund and 0.20% for the Uninsured Employer's Fund for a total assessment rate of 2.70%.

Commonwealth of Virginia | Governor