Work comp fund to pay dividends totaling $389,000continued from page 1 The $389,605 payout represents an increase of 4.5 percent
from last year’s $372,800. The April dividend represents interest earnings on the
fund’s assets. It is expected to be followed by a July distribution
of surplus reserves, which is usually larger than the April amount. Each
member receives a pro rata share of the dividend payment based on the
store’s total premium. Retailers Fund has paid dividends every year since 1982,
the year after it was formed. More than $16.5 million has been returned
to members over the life of the fund. “Retailers Fund has a consistent track record of
paying dividends to members,” said James P. Hallan, fund administrator
and MRA president and chief operating officer. “That’s possible
because of retailers’ commitment to safety, which keeps claims and
costs down.” Besides cash-back dividends, participants received up-front
premium credits in 2002 amounting to 8.75 percent of each member’s
premium. This is the third year members have received an up-front discount
on premiums. In addition, overall Retailers Fund rates decreased by 3.51 percent for 2002, in contrast to rate increases imposed by a number of other workers’ compensation insurers in the state. |