COMPENSATION A Guide for New Brunswick ... - WorkSafeNB

Premium CalculationMany factors determine an employer’s premium for workers’ compensationinsurance coverage. The system is not intended to balance each insuredemployer’s premium payment exactly to the insured employer’s costs, butto group and assess employers by similar industry and accident risk.✱Important DatesJanuaryFebruary 28March 31Form 100 – Employer Payroll Report is sent to all annually assessed (non-MAAP)registered employers.Deadline for delivering completed Form 100 to WorkSafeNB.Deadline for paying total annual premium amount plus any carry-forward balances.If the date of the assessment notice plus 30 days is later, the latter date will takeprecedence (Payment option A).Deadline for paying 100% of last year’s adjustments and carry forwardbalance plus 50% of the current year’s assessment, unless the date of theassessment notice plus 30 days is later. Then the latter date takes precedence(Payment option B).August 31November 30Deadline for paying the remaining 50% of total annual premium amount plusaccumulated interest (Payment option B).Deadline for reporting an increase in payroll estimates originally submitted forthat year.15