SouthGrow Workers Compensation & Unemployment Insurance

2005 and 2006 Premium Rates by Sector
Sector 2005 Premium Rate Range 2006 Premium Rate Range 2005 Premium Rate Range Range of % Difference in Rates
Agriculture and Forestry $3.77 - $4.60 $3.54 - $4.32 $3.47 - $3.58 0.28% to -19.68%
Mining & Petroluem Development $0.46 - $4.75 $0.46 - $4.15 $0.40 - $3.27 -4.17% to -22.14%
Manufacturing and Processing $0.68 - $8.84 $0.67 - $6.07 $0.54 - $4.31  33.11% to -37.21%
Construction & Construction Services $1.07 - $9.88 $0.86 - $9.20 $0.83 - $8.12 -3.13% to -15.70%
Transportation, Communications & Utilities $0.58 - $5.69 $0.49 - $5.20 $0.43 - $4.18 8.77% to -30.67%
Wholesale & Retail $0.38 - $2.79 $0.30 - $2.29 $0.28 - $2.03 2.78% to -18.14%
Municipal Gov't, Education & Health $0.15 - $3.16 $0.13 - $2.76 $0.09 - $2.25 5.71% to -30.77%
Provincial Government $0.18 - $1.25 $0.15 - $1.17 $0.15 - $1.42 21.37% to -13.43%
Business, Personal & Professional Services $0.24 - $3.43 $0.22 - $3.93 $0.22 - $3.63 12.00% to -12.30%

NOTES:
1. There are a variety of jobs within each sector, accounting for the range in premium rates.
2. Premium changes from 2005 to 2006 to 2007 were based on an assessment of each job within the sector,
therefore rates increased for some jobs while others saw a decrease.
3. The "% Difference in Rates" accounts for the smallest and greatest changes within the sector.

Source: WCB Alberta. Customer Service & Risk Management, 2007


Workers Compensation Facts at a Glance - 2003, 2004, 2005
  2005 2004 2003
Number of Workers Covered 1,539,732 1,428,595 1,401,768
Claims Costs (Thousands) $860,972 $825,840 $860,091
Registered Employers 117,337 109,195 106,255
Premium Revenues (Thousands) $978,910 $936,178 $877,642
Average Collected Premium Rate 
(per $100 of insurable earnings)		 $1.83 $1.96 $1.94
Investment Revenue (Thousands) $556,214 $224,336 $214,972
Fund Balance (Thousands)  n/a $358,978 $311,002
Funded Position (per cent funded)* 132.40% 131.30% 120.70%
Occupational Disease Reserve n/a $241,500 $231,700
* Funded Position includes Fund Balance, Accumulated Other Comprehensive Income and Occupational Disease Reserve.
Source: WCB Alberta


Coverage Information - 2007
Annual Wage Loss Coverage Approximate Monthly Compensation Rate
$20,000 $1,270.19
$25,000 $1,531.39
$30,000 $1,792.58
$35,000 $2,053.78
$40,000 $2,297.66
$45,000 $2,546.66
$50,000 $2,801.83
$55,000 $3,056.83
$60,000 $3,311.83
$64,600 $3,546.43
Notes:
1. For 2007, $20,000 is the minumum amount of coverage and $64,600 is the maximum amount of wage loss coverage available.

Source: WCB Alberta


Employment Insurance
Employee EI premium rate (2007) $1.80 per $100 of insurable earnings
Employer EI premium rate (2007) $2.52 per $100 of insurable earnings
Maximum Insurable Earnings (2007) $40,000
Maximum Annual Contribution - Employee (2007) $720
Maximum Annual Contribution - Employer (2007) $1,008