Employers of State workers will be seeing a reduction in the costs of Worker's Compensation payments.

Saving to all employers is expected to total $45 million as a result of the 2013 Business Relief Act.

Governor Cuomo signed the Act into law last year, and says it has cut the assessment rate by a total of 30% over the last two years.

"Reducing the cost of doing business in New York has been a top priority for this administration and I'm proud to announce that our reforms to the Workers' Compensation System have lowered rates for the second straight year," Governor Cuomo said. "This is one more way we're improving the economic climate in New York and making this state a place where businesses can grow, thrive and create jobs."

 

The Business Relief Act standardized and corrected the previous assessment process. Now, all employers are charged with the same methods, leading to a lower assessment rate for all New York's employers.

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