News & Information
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| For Immediate Release |
Contact: Andy Deloney |
September 12, 2007
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517/377-3931 |
Michigan Restaurant and
Lodging Fund returns over $3.1 million!
Industry’s workers’
compensation fund returns highest amount ever
LANSING – The Michigan Restaurant
Association (MRA) announced that association members participating in the
Michigan Restaurant and Lodging Fund (MRL Fund) will be receiving the largest
return on profit the fund has ever made.
The MRL Fund, the association’s workers’ compensation fund, is returning
more than $3,154,000 of profit back to its members, making this the largest
return in MRL Fund history. The return
brings the total profits returned to over $20.5 million since the fund’s
inception in 1992.
“This is great news for Michigan restaurateurs
participating in our workers’ compensation program,” said Rob Gifford,
president and chief executive officer of the MRA. “Last year at this time we were announcing a
record-breaking return of about $2.8 million.
So the numbers tell the story.
Restaurateurs participating in the MRL Fund are seeing greater and
greater returns.”
The MRL Fund was established in 1992 to help businesses in the restaurant industry control
their long-term workers’ compensation costs.
The fund’s profits, which include premium dollars that are not used to
pay administrative costs and claims, are returned back to its members along
with investment income. Over time, fund members receive an average of
45-50 percent of their premium back, in the form of a profit return.
The MRL Fund’s proactive approach to claims management helps
minimize the group’s losses. Compensable
injuries are paid promptly, while claims without merit are staunchly
defended. In addition, the MRL Fund
provides safety and loss prevention programs specifically to the restaurant
industry to help reduce workplace injuries and increase productivity. After all, the lower the fund’s claim costs,
the greater the profits to restaurateurs!
Many sectors of the restaurant industry are eligible to
participate in the MRL Fund,
including fine and casual dining establishments, family sit-down restaurants, liquor-licensed
establishments, fast food restaurants, coffee shops, delicatessens and variety of other industry segments.
“The
goal of the Michigan Restaurant Association is the success of our members,”
said Gifford. “The Michigan Restaurant
and Lodging Fund is one of the best tools available to help make your success a
reality.”
If
you are not currently participating in the Michigan Restaurant and Lodging Fund
and want more information, please contact Kathryn Lehman of the MRA at (800)
968-9668.
Founded in 1921, the Michigan Restaurant Association represents more than 4,500 Michigan foodservice establishments. The foodservice industry plays an integral role in Michigan’s economy, employing more than 436,000 people and creating more than $11.3 billion in total annual sales. For more information, call (517) 482-5244.
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