Payroll inflation factor update

Effective January 1, 2024, voluntary and assigned risk policies will be renewed with a 5% payroll inflation factor, which is unchanged from the prior year. The inflation factor increases payroll to account for expected wage and employment growth and is based on historical average payroll growth for SAIF policyholders and Oregon economic data.

Our agency partners play a critical role in ensuring that we have accurate payroll estimates so premium can be calculated and charged correctly on our installment billing plans. If you provide us with estimated payroll figures, we will use that information and override the inflation factor. This will also stop re-estimates based on audited payroll received after the policy term begins.