MAY TECHNOLOGY MANUFACTURING MAY TOOL MO

2922 WHEELING AVE
KANSAS CITY, MO 64129

Talking Points

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is Very Good, in the 29th percentile compared to peers.
  • In the last year, LCM Increased by 3%. While peers Increased an average of 5%.
Average

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 0% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 50th percentile at 15.4% of the market.
Needs Attention

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier LCM
2022

1.230
(Current: 1.370)
2019
11-29-2018

1.200
2018

-

Contacts

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VIce President
(753) 590-4696
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Benefits Admin
(932) 460-2041
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Benefits Admin
(072) 428-3444
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Chief Executive Officer
(500) 862-0646
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Manager
(374) 218-2053
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 8,145,966 $ 2,352,686 $ 4,002,524 $ 4,281,242 $ 6,688,252 $ 1,910,153 $ 1,549,220 $ 1,708,524 $ 6,458,698 $ 8,124,932 $ 4,284,442 $ 4,888,971
Liabilities: $ 0 $ 457 $ 6 $ 50 $ 712 $ 6 $ 61 $ 3
EE Contrib: $ 379,427 $ 650,315 $ 661,859 $ 280,943 $ 939,232 $ 726,151 $ 27,118 $ 870,156 $ 349,270 $ 92,356 $ 339,617 $ 534,292
Emp Contrib: $ 103,599 $ 20,096 $ 57,761 $ 823,930 $ 83,466 $ 48,847 $ 26,901 $ 22,681 $ 890,157 $ 768,575 $ 63,684 $ 26,490
Income/Loss: $ 978,122 $ 9,822,075 $ 1,181,193($ 8,614) $ 115,157 $ 906,530($ 1,307) $ 372,784 $ 612,786 $ 695,371($ 80,052) $ 396,706
Total Income: $ 1,473,814 $ 8,583,744 $ 6,755,046 $ 606,747 $ 9,276,756 $ 232,524 $ 740,192 $ 511,948 $ 634,229 $ 875,336 $ 157,836 $ 733,057
Paid Benefits: $ 350,527 $ 162,023 $ 615,774 $ 126,481 $ 52,565 $ 328,326 $ 863,937 $ 630,837 $ 11,743 $ 168,704 $ 825,556 $ 3,290
Expenses: $ 0 $ 7 $ 7 $ 200 $ 3 $ 6 $ 31 $ 4 $ 72 $ 3
  Commission: $ 44,954 $ 62,459 $ 74,643 $ 93,131 $ 92,719 $ 51,497 $ 40,862 $ 35,860 $ 45,031 $ 76,509 $ 40,025 $ 78,198
Net Income: $ 1,078,333 $ 2,056,238 $ 9,446,203($ 947,271) $ 3,087,513 $ 132,399 $ 65,709 $ 85,002 $ 253,959 $ 693,114($ 25,754) $ 250,430
Net Assets: $ 9,224,299 $ 8,058,713 $ 6,737,551 $ 3,733,227 $ 6,991,079 $ 2,551,332 $ 4,687,146 $ 359,072 $ 9,101,002 $ 5,243,665 $ 1,752,011 $ 6,529,488

Participants

202120202019201820172016201520142013201220112010
Total Participants:211214772655994634573061525584417692
Active Part.:1201688762140767414556022489177191
Retired Part.:2aa22222112f239324f7
Deceased Part.:d9cbcd4c37 89bd88028ed

Insurance

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Renewal:12-31-2021
Covered:202
PENSION_EOY_SEP_ACCT_AMT: 9065161PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 0
Fees $ 27,377
Brokers

Providers

VASQ NCAWRSZ UUOC ZHZLUOYKB BUCWKXORecordkeeping and information management (computing, tabulating, data processing, etc.)
Investment management
Direct payment from the plan
Shareholder servicing fees
Sub-transfer agency fees
Float revenue
Distribution (12b-1) fees
'Soft dollar' commissions
Compensation:$164
Relation:NONE
DJY NZAQZTPWW OJCTTIGQ PXWInvestment advisory (participants)
Direct payment from the plan
Compensation:$21,745
Relation:NONE

Features

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    2E - Profit-sharing

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Health Benefits

Financials

202220212020201920182017201620152014
BOY Assets: $ 0 $ 3 $ 187 $ 5
Liabilities: $ 0 $ 529 $ 62 $ 739 $ 1
EE Contrib: $ 0 $ 67 $ 9 $ 4 $ 6 $ 3 $ 9
Emp Contrib: $ 0 $ 9 $ 48 $ 7 $ 34 $ 6
Income/Loss: $ 0 $ 66 $ 9 $ 0 $ 9 $ 83
Total Income: $ 0 $ 3 $ 12 $ 9
Paid Benefits: $ 0 $ 7 $ 8 $ 9 $ 3 $ 69 $ 1
Expenses: $ 0 $ 174 $ 7 $ 9 $ 1 $ 94 $ 294
  Commission: $ 0 $ 8 $ 84 $ 7 $ 2 $ 18 $ 3
Net Income: $ 0 $ 71 $ 37 $ 81 $ 6 $ 1 $ 7
Net Assets: $ 0 $ 15 $ 832 $ 2 $ 49 $ 77

Participants

202220212020201920182017201620152014
Total Participants:110187176248484179641291964
Active Part.:110965348106993502435342474
Retired Part.:a31d32f7727317e426a
Deceased Part.:bd8ca19818883 14

Insurance

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Renewal:04-30-2022
Covered:110
  1. Dental
  2. Life Insurance
  3. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 103,966
Commission11.78% $ 12,242
Fees1.44% $ 1,501
Brokers
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Renewal:04-30-2022
Covered:92
  1. Health
  2. Prescription Drug

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 1,289,032
Commission4% $ 51,561
Fees0.9% $ 11,610
Brokers

Providers

No Providers

Features

    4A - Health (other than vision or dental).

    4B - Life insurance.

    4D - Dental.

    4Q - Other.


OSHA