the hearings have nothing to do with”huge salaries and lavish entertainment.” Pinnacol had big reserves and the state, facing a budget shortfall, tried to get their hands on it but were unable to do it. Any change to the structure is aimed at allowing them to access the reserves to be spent on other things. However, Pinnacol does need to pay premium taxes and into the Guarantee Fund which they dont at this time.
the hearings have nothing to do with”huge salaries and lavish entertainment.” Pinnacol had big reserves and the state, facing a budget shortfall, tried to get their hands on it but were unable to do it. Any change to the structure is aimed at allowing them to access the reserves to be spent on other things. However, Pinnacol does need to pay premium taxes and into the Guarantee Fund which they dont at this time.