Retrospective Rating (Retro) is a safety incentive program offered by L&I, through a sponsoring association. In Retro, you have the potential to earn a partial refund on your workers’ compensation premiums.
Essentially, retrospective rating is another way of calculating premium, after the fact or “retroactively.” The Retro coverage period lasts 12 months, beginning January each year. About 9 months after the coverage period ends, L&I looks back on the Retro group’s actual experience and calculates the retro premium for the coverage period. If the retro premium is below what is expected, then the group can earn a partial refund on the difference.