LD 1359, Page 8 - 119th Legislature, FIRST REGULAR Session

(2) Provide each employer at least monthly with a

notification of benefits paid and chargeable to the

employer's experience rating record. In the absence of

an application for redetermination filed in the manner

and within the period prescribed by the commission, a

notification is conclusive and binding upon the

employer for all purposes. A redetermination made after

notice and opportunity for hearing and the commission's

findings of fact may be introduced in subsequent

administrative or judicial proceedings involving the

determination of the rate of contributions of an

employer for the 12-month period commencing January 1st

of any year and is entitled to the same finality as is

provided in this section with respect to the findings

of fact made by the commission in proceedings to

redetermine the contribution rates of an employer.

Sec. 6. 26 MRSA §1221, sub-§6, as amended by PL 1985, c. 348, §11, is
repealed and the following enacted in its place:

6.__Definitions.__As used in this section, unless the context
otherwise indicates, the following terms have the following
meanings.

A. "Average benefit cost rate" means the percentage obtained
by averaging the 3 highest cost rates for the last 20
completed calendar years preceding the computation date. The
rate is rounded down to the nearest 0.1%.

B. "Benefits charged" means the benefits paid and charged
against the experience rating record of an employer as
provided in subsection 3, including all benefits paid and
charged on or before the computation date.

C.__"Composite cost rate" means the arithmetic average of
the annual cost rates for the last 15 completed calendar
years multiplied by a factor of 1.95; either the resulting
composite rate applies for the reserve multiple calculation
or the rate of 2.20, whichever is greater; but in no case
may a composite cost rate higher than 2.83 apply.

D.__"Computation date" means June 30th of each calendar
year, and the reserve ratio of each employer is determined
by the commissioner as of that date.

E. "Contributions credited" means the contributions credited
to the experience rating record of an employer as provided
in subsection 3, including all contributions due and paid on
or before July 31st following the computation date.

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