Iron & Steel Erection workers comp rate in Illinois
The filed workers comp rate for class code 5040 (Iron & Steel Erection) in Illinois is $12.83 per $100 of payroll , effective 2026-01-01. On $500,000 of payroll, that's roughly $64,165 in base premium.
Rate per $100 $12.83
Rate type advisory_rate
Authority NCCI / state rating bureau
Effective 2026-01-01
vs peers 100%
Confidence HIGH
FAQ
What is the workers comp rate for code 5040 in Illinois?
The filed workers comp loss cost / rate for NCCI class code 5040 (Iron & Steel Erection) in Illinois is $12.83 per $100 of payroll, effective 2026-01-01.
How much would I pay in Illinois for code 5040 on $500,000 of payroll?
At $12.83 per $100, $500,000 of payroll yields a base premium of $64,165 before experience modifier and schedule credits. Actual cost varies by carrier and underwriting.
Where else can I see code 5040?
UT has the cheapest filed rate for code 5040 ($0.930) and IL the highest ($12.83). Illinois sits at the 100th percentile across 22 peer states.