Michigan Retailers Association Workers’ Comp Program Plans Cut

Retailers Fund, the workers’ compensation insurance program of the Michigan Retailers Association (MRA), plans an overall rate cut of 3.51 percent for 2002. The rate cut, the fifth such reduction in nine years was approved by the fund’s Board of Trustees based on the fund’s excellent claims record.

The actual rate change for each classification within the fund is based on the classification’s claims experience. Many participants will see reductions of five percent. In addition, all participants will receive an up-front, 8.75-percent premium credit in 2002.

Retailers Fund, founded in 1981, reports that it has paid significant dividends to members every year since 1982, returning more than $1.1 million last year.