Equation for Experience Cost (EC) ratio

The experience cost ratio for a given category of wage-loss plan (1 to 4) is equal to the sum of the experience cost of that category for years 2018, 2017 and 2016, divided by the sum of the total insurable earnings for years 2018, 2017 and 2016 for salaried employees of that given category, prior to adjustments for employee premium refunds.

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