The article has been updated successfully.How should insurance premium discounts and dividends be reported in the Compensation Expenditure Report?
How should insurance premium discounts and dividends be reported in the Compensation Expenditure Report? These credits are applied to the organization as a whole and cannot be identified as credits by individual employee.
These types of credits and discounts cannot be tied to individuals and therefore cannot be reported by SEID on the Compensation Expenditure Report.
Credits and discounts from Worker’s Compensation, Unemployment Insurance, and some insurance companies are applied to the organization as a whole rather than on an individual employee basis. Such credits and discounts are typically very small relative to the premiums, and districts typically apply the credit to the next total payment made by the district. The inability to exclude the credits on an SEID basis is insignificant to the amounts being reported.
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Last Updated
1st of November, 2012
