Kentucky Supreme Courtroom ruling upholds staff’ compensation financial savings for companies
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Laws allowing Kentucky companies huge savings in their workers’ compensation costs have been upheld by the Kentucky Supreme Court.
House Bill 2, passed by the General Assembly in 2018 with bipartisan support, brought about major reforms to the employee compensation system for the first time in over twenty years.
Since the bill was passed, Kentucky companies have saved 25 percent on their workers’ compensation costs, which continues due to the court’s positive judgment.
The Kentucky Chamber led a grand coalition of nearly 50 companies, as well as private and public institutions and associations, to pass the bill in 2018. The Kentucky Chamber was joined by the Kentucky League of Cities, the Kentucky Association of Counties, the Kentucky Retail Federation, the Kentucky School Board Association, the Kentucky Professional Firefighters Association, and major employers such as Toyota, Ford, and UPS to add to the broad appeal of the law demonstrate.
“We appreciate the leadership of the General Assembly and Legislature Rep. Adam Koenig for making these improvements to the labor compensation system law and applaud the decision of the Supreme Court to uphold these reforms. Companies across the state will continue to benefit from these critical changes, ”said Ashli Watts, President and CEO of the Kentucky Chamber.
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