Board of Directors Resolutions – September 2022

September 29, 2022

  • Approval to initiate procurement activities for Application Development and Maintenance Smartsourcing.
  • Approved pooling of assets in IMCO’s investment pool for infrastructure.
  • Approved that no changes be made to the Fair Practices Commission Charter at this time.
  • Approved the unaudited Second Quarter 2022 Results Report.
  • Approved the unaudited Second Quarter 2022 Sufficiency Report.
  • Approved the following:
  1. The Chief Actuary’s recommendation that the 2023 required rate be set to $1.30, which maintains the 2022 average required rate for Schedule 1; and 
  2. That WSIB management finalize the proposed modifications to the rate setting approach for temporary employment agencies, and the proposed modifications be brought to the Board of Directors for approval and implementation in 2024 at the earliest.
  • Approved that no surplus be distributed and that no target funding contributions be required in 2023.