You can typically expect to receive your first refund check about 12 months after the completion of your first plan year in GRIP.
Claims impact Retro performance for a period of three years. Accordingly, the GRIP program pays refunds for each plan year in three annual installments (“adjustments”).
For example, participants in the 2017-18 plan year are eligible to receive refund adjustments in 2019 (30%), 2020 (20%), and 2021 (balance). After three years of participation, GRIP companies begin eligibility to receive partial refunds for three plan years each summer. This continues each July thereafter as long as the company remains an active participant of GRIP.