Illinoisâ€™ workersâ€™ compensation rates may be going down, but not by enough to satisfy manufacturers.
The governorâ€™s office is touting recommendations by the National Council on Compensation Insurance to reduce rates by 5.5 percent in 2015. Illinois Manufacturersâ€™ Association Vice President Mark Denzler welcomes the drop, but cautions that those are only recommendations, not the final figures.
â€śSo theyâ€™re not mandated rate reductions, and so actually, Illinois companies, particularly manufacturers have not seen anywhere close to an overall 18 percent reduction in the past several years,â€ť Denzler said.
Itâ€™s the governorâ€™s office that says rates have dropped by 18 percent since the 2011 workersâ€™ comp reform law. Denzler believes further reform is needed to bring workersâ€™ comp costs in Illinois in line with other states.
In a statement announcing the declining rates, Gov. Pat Quinn said â€śIllinois is making a comeback and historic reforms like these will keep it going strong, driving our economy forward and creating jobs in every corner of our state.â€ť
The Illinois Manufacturersâ€™ Association has endorsed Quinnâ€™s opponent in the November election, Republican nominee Bruce Rauner, partially based on Raunerâ€™s support of additional workers compâ€™ reform.