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Extended Deadline for Truckers

 WCB Extends Deadline for Truckers to Sign Trust MOU:

 

 

The New York Workers’ Compensation Board has extended to Nov. 1 the deadline for truck drivers who participated in the Transportation Workers’ Compensation Trust to sign a Memorandum of Understanding.

 

That trust, also known as "Team Trust," was one of some two-dozen self-insured trusts that have failed in New York in recent years. Land Line mag.com, a business journal for truckers, reported that there are more than 7,000 members of these trusts, whose liabilities are estimated at approximately $1 billion.

 

The trust program was terminated in 2010.

 

Members of the Owner-Operator Independent Drivers Association have reportedly received bills from WCB in amounts ranging from $14,000 to $33,000. These truckers joined the trust upon signing trust agreements to lease with carriers based in New York between 1995 and 2010.

 

The MOU states that the signing trucker will pay 75% of the assessment during an 18-month period.

 

Land Line cited a workers’ compensation lawyer, who suggested that the state collect the trust deficits from the third-party administrators who managed the trust. The lawyer also cited a state Supreme Court ruling in Riccelli Enterprises et al. v. New York Workers’ Compensation that upheld a lower court’s refusal to allow the state to assess members of another failed trust.

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