Industry News

Abstract: ​The New York State Workers' Compensation Board has announced that the mandatory assessment rate for 2026 will be 7.0%. Body: ​The New York State Workers' Compensation Board has announced that the mandatory assessment rate for 2026 will be 7.0%. This represents a slight decrease from the current level of 7.1%. The assessment, required by the state Workers' Compensation Law​, pays for the board's administrative expenses. It applies to Workers' Comp insurance standard premium or "premium equivalent" (for self-insured employers.)The new rate applies to all policies effective on and after Jan. 1, 2026.  Category: Industry News Published: 11/3/2025 4:42 PM Author: Tim Dodge IAFeaturePost: NONE Source

Abstract: The state government is now sponsoring a retirement savings program for private sector employees who lack access to a workplace plan. Body:  The state government is now sponsoring a retirement savings program for private sector employees who lack access to a workplace plan. Gov. Kathy Hochul announced the program, called New York State Secure Choice Savings Program, earlier this month. The plan lets employees save automatically through payroll deductions into a Roth IRA. it’s designed to be easy for employers to implement.What You Need to KnowStarting soon (expected late 2025), Ne​w York ​State law​ will require most businesses with:10+ employees,Two or more years in operation, andNo existing retirement…

Abstract: Governor Hochul today announced the resignation of Adrienne Harris, Superintendent of the New York State Department of Financial Services (DFS). Body: ​Governor Hochul today announced the resignation of Adrienne Harris, Superintendent of the New York State Department of Financial Services (DFS). Kaitlin Asrow has been appointed Acting Superintendent.According to a press release, Asrow previously served as Executive Deputy Superintendent of the DFS Research & Innovation Division, where she oversaw the regulation of virtual currency companies.The position of DFS Superintendent is a gubernatorial appointment subject to confirmation by the State Senate. Superintendent Harris was appointed by Governor Hochul in August 2021 and confirmed on January…