Slovak Savings Bank

8700 Perry Hwy
Pittsburgh, PA 15237

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 27th percentile compared to peers.
  • In the last year, LCM Increased by 7%. While peers Increased an average of 1%.
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.

  • 6% of peers have changed carriers since last year.
  • Of those who changed carriers, 15.8% decreased their LCM vs those who stayed with their current provider who saw a 2.3% increase, a difference of roughly 7x.
  • Current Carrier's market share is in the 99th percentile at 63.4% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.637
2020

1.527
2020
12-01-2019

1.530
2019

1.359
2018

1.190
2017

1.190
2016

1.020
2016
07-01-2015

1.700
2015

1.700
2014

-
2013

-
2012

-
2012
07-01-2011

-
2011

-
2010

-
2009

-

Contacts

Ieki Drfyzdo
VP
(948) 736-9807
pfpocint@hrffomikxbjjoiotnf.jab

R. MLCUEG NWK, MV
Benefits Admin
(252) 334-6173
9081

X. KJHAGI UNYO VH
Benefits Admin
(489) 044-3699
18759

F. ILRZQL UEXO, RN
Benefits Admin
(585) 090-0856
768

E. JBTASI MILB, JL
Benefits Admin
(151) 329-0257
8f94

Industry Classification

Retirement Benefits

Financials

2021202020192018201720162015201420132012
BOY Assets: $ 1,218,811 $ 653,903 $ 85,774 $ 109,389 $ 64,835 $ 25,034 $ 237,564 $ 924,083 $ 39,429
Liabilities: $ 0 $ 775 $ 1 $ 7 $ 710 $ 288 $ 808 $ 7 $ 1
EE Contrib: $ 175,140 $ 36,619 $ 586,009 $ 59,285 $ 88,728 $ 56,452 $ 15,163 $ 17,645 $ 867,145 $ 60,401
Emp Contrib: $ 96,315 $ 59,310 $ 75,046 $ 26,490 $ 98,466 $ 44,498 $ 41,141 $ 18,249 $ 49,840 $ 2,247
Income/Loss: $ 195,040 $ 463,080 $ 90,296($ 815,025) $ 3,389 $ 1,983 $ 602 $ 87,904 $ 28,596 $ 9,606
Total Income: $ 466,495 $ 704,609 $ 994,811 $ 29,753 $ 603,607 $ 701,151 $ 43,127 $ 12,611 $ 802,946 $ 59,868
Paid Benefits: $ 50,884 $ 3,170 $ 58,642 $ 88,477 $ 63,247 $ 72 $ 4 $ 6
Expenses: $ 0 $ 8 $ 3 $ 9 $ 9 $ 62 $ 1
  Commission: $ 3,367 $ 1,053 $ 868 $ 5,382 $ 839 $ 9 $ 9 $ 1 $ 6
Net Income: $ 412,244 $ 438,092 $ 863,902 $ 12 $ 82,583 $ 307,475 $ 51,552 $ 34,684 $ 436,501 $ 86,008
Net Assets: $ 1,631,055 $ 6,260,488 $ 566,267 $ 739,113 $ 31,474 $ 464,396 $ 751,318 $ 958,267 $ 223,515 $ 36,765

Participants

2021202020192018201720162015201420132012
Total Participants:3659352159152814284
Active Part.:317232744200200928e0b
Retired Part.:62e76a873fa9c3327c8
Deceased Part.:d8a81a3a1a8a1e939cd1a

Insurance

No Insurance Coverage

Providers

No Providers

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.

    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.

    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.