MULTI TECH SYSTEMS INC

2205 WOODALE DR
MOUNDS VIEW, MN 55112

Talking Points

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is high. It is in the 100th percentile compared to peers.
  • Mod increased by more than 75% of peers.
Needs Attention

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 Higher than 80% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
Needs Attention

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.

  • 43% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 43% of peers who changed carriers, This might indicate carriers are competing aggresively for similar businesses to cover.
  • Current Carrier's market share is in the 95th percentile at 28.6% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier Premium LCM
2023

1.052
2022

1.036
2022

0.900
2022

-
2022

1.766
2022

1.750
2022

-
2022

0.981
2022

0.965
2022
11-29-2021

2.037
2022
11-29-2021

1.478
2022
11-29-2021

1.742
2021

2.040
2021

1.478
2021

-
2021

1.766
2021

1.742
2021

1.128
2021

1.750
2020

-
2020

-
2020

-
2020

1.892
2020

1.128
2020

1.875
2019

-
2019

-
2019

-
2019

1.202
2019

1.032
2019

1.744
2018

-
2018

1.202
2018

1.032
2017

1.203
2017

-
2017

1.202
2017

1.032
2016

1.203
2016

-
2016

1.202
2016

1.032
2015

-
2015

1.093
2015

-
2015

-
2014

-
2014

1.093
2013

2.219

Contacts

VJGDF BNYGPOSRX
Benefits Admin
(076) 190-0506
2d7

MIBIW EIONPSITX
Benefits Admin
(739) 713-0668
5adf

QXYXC MHOXIR
Benefits Admin
(514) 522-3299
33a90

EWIOATIT YOJNII
Benefits Admin
(629) 518-2520
703b

GBSDMAAH MCRHEY
Benefits Admin
(146) 965-2809
45f25

WHFFUGTQL AVSALI
Benefits Admin
(023) 495-5376
44e3

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 33,055,529 $ 80,878,966 $ 11,714,257 $ 83,030,589 $ 29,600,251 $ 80,857,153 $ 75,350,599 $ 72,169,450 $ 55,657,793 $ 38,155,472 $ 63,984,825 $ 93,050,368
Liabilities: $ 0 $ 80 $ 23,134 $ 8 $ 8 $ 60 $ 9,673 $ 4,166 $ 84 $ 8,068 $ 5,868 $ 3,350
EE Contrib: $ 1,627,062 $ 9,656,324 $ 4,304,754 $ 9,139,425 $ 6,656,230 $ 8,407,638 $ 1,893,053 $ 884,660 $ 590,305 $ 362,172 $ 771,914 $ 341,602
Emp Contrib: $ 512,178 $ 703,122 $ 915,862 $ 786,654 $ 832,248 $ 24,605 $ 459,169 $ 286,144 $ 847,418 $ 111,318 $ 628,917 $ 3,565
Income/Loss: $ 722,407 $ 498,497 $ 3,140,796($ 6,970,913) $ 972,514 $ 997,004($ 7,078,345)($ 649,983) $ 90,604 $ 1,495,786($ 479,475) $ 1,722,513
Total Income: $ 6,033,225 $ 7,194,347 $ 8,925,023 $ 200,225 $ 7,293,536 $ 3,307,034 $ 726,497 $ 220,926 $ 9,460,516 $ 7,404,434 $ 642,677 $ 4,334,300
Paid Benefits: $ 2,423,061 $ 342,443 $ 7,626,479 $ 7,308,077 $ 9,789,282 $ 240,443 $ 1,996,442 $ 151,746 $ 1,584,819 $ 6,305,295 $ 1,570,563 $ 7,956,020
Expenses: $ 0 $ 39 $ 4 $ 8 $ 3 $ 500 $ 9 $ 9
  Commission: $ 114,211 $ 975,901 $ 33,382 $ 380,020 $ 88,975 $ 40,869 $ 67,987 $ 37,618 $ 42,356 $ 97,085 $ 64,168 $ 25,702
Net Income: $ 3,495,953 $ 4,737,142 $ 4,368,813($ 3,766,244) $ 5,749,334 $ 5,224,972($ 1,725,024)($ 813,728) $ 538,021 $ 297,013($ 241,146) $ 946,235
Net Assets: $ 36,551,482 $ 97,621,570 $ 1,572,961 $ 9,115,941 $ 81,794,982 $ 39,296,585 $ 57,860,216 $ 25,793,058 $ 2,455,380 $ 72,371,808 $ 14,358,138 $ 98,609,592

Participants

202120202019201820172016201520142013201220112010
Total Participants:263006928126885912282868177992576839
Active Part.:203230824841873810662566436338025924
Retired Part.:6d5a95ef5326319254c
Deceased Part.:61d6263d6552 b6fa4ff6d48

Insurance

No Insurance Coverage

Providers

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FAEHEP ECNHRJGIJL IRAXYDWI JEJInvestment advisory (plan)
Compensation:$63,574
Relation:ADVISOR
FUQMWQWU VVQUDVWOUVG ULLFQLMKNKJPKParticipant loan processing
Sub-transfer agency fees
Recordkeeping fees
Account maintenance fees
Compensation:$50,637
Relation:RECORDKEEPER
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Source: HARBOR CAP APP INST - HARBOR SERVI
Sub-transfer agency fees
Compensation:0.10%
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Source: PIF SMCP GRTH I IS - PRINCIPAL SHA
Sub-transfer agency fees
Compensation:0.10%

Features

    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.

Health Benefits

Financials

20212020201920182017
BOY Assets: $ 0 $ 39 $ 5 $ 5 $ 8
Liabilities: $ 0 $ 2 $ 2
EE Contrib: $ 0 $ 7 $ 9 $ 5
Emp Contrib: $ 0 $ 16 $ 1
Income/Loss: $ 0 $ 28
Total Income: $ 0
Paid Benefits: $ 0 $ 1 $ 8 $ 8
Expenses: $ 0
  Commission: $ 0 $ 43 $ 1
Net Income: $ 0 $ 8 $ 2
Net Assets: $ 0 $ 9

Participants

20212020201920182017
Total Participants:201876986966025
Active Part.:197720673334271
Retired Part.:45449
Deceased Part.:653a20f66

Insurance

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Renewal:12-31-2021
Covered:195
  1. Life Insurance
  2. Long Term Disab. Ins
  3. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 148,363
Commission15% $ 22,255
Fees0.33% $ 495
Brokers
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Renewal:12-31-2021
Covered:190
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 11,799
Commission10% $ 1,180
Fees0% $ 0
Brokers

Providers

No Providers

Features

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

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.

    4L - Death benefits (include travel accident but not life insurance).