2002 dividend tops $1 millioncontinued from page 1 The Board of Trustees at its April meeting approved the
payment of $644,800 in dividends to fund participants from the fund’s
surplus reserves. Dividend checks will be issued in July, pending state
approval. Added to the $389,605 interest-earnings dividend already
paid in April, the July payment will bring total 2002 dividends to more
than $1 million. Retailers Fund has returned dividends every year for
the past two decades, paying out a total of more than $17 million over
the life of the fund. “Retailers Fund is able to return a significant portion
of premium to participants because of their solid overall safety record,”
said Fund Administrator James P. Hallan, MRA’s president and chief
operating officer. “Retailers Fund participants benefit directly
when work comp claims are low and costs are kept down.” A new study by Midwest Employers Casualty Company reveals
how successfully Retailers Fund participants have minimized the number
and cost of workplace injuries. The study found that the fund paid 56
percent less on claims over the past four years than insurers of similar
retailers. The difference was due to fewer work comp claims by fund
participants and lower costs per claim for medical and wage benefits.
This excellent safety record has enabled the Fund to go
nine years without a rate increase - rates were cut 3.51 percent for 2002
- and to give up-front premium discounts of 8.75 percent for the past
three years. For more information about how your retail business can save on work comp costs through Retailers Fund, contact Judy Schafer, Manager of Fund Operations at 1-800-366-3699 or jschafer@retailers.com. |