Question 1

How much does workers' comp cost for Bank - All Employees in South Carolina?

Accepted Answer

The current rate for Bank - All Employees (Class Code 8815) in South Carolina is $0.15 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $75 per year in workers' comp premium.

Question 2

Is workers' comp mandatory in South Carolina?

Accepted Answer

Yes, workers' compensation insurance is mandatory in South Carolina for employers with 4 or more employees.

Question 3

How does South Carolina's rate compare to other states?

Accepted Answer

South Carolina's rate for Bank - All Employees is $0.15, which is $0.01 below the national average of $0.16 (-6%).

Question 4

What does class code 8815 cover?

Accepted Answer

Covers all bank employees including tellers, loan officers, and administrative staff.

State	Rate per $100	Difference
South Carolina (current)	$0.15	—
Indiana	$0.12	-0.03
Texas	$0.12	-0.03
Virginia	$0.12	-0.03
Arkansas	$0.13	-0.02
Colorado	$0.13	-0.02

Workers' Comp Rate for Bank - All Employees in South Carolina (Class Code 8815)

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