Sageworth Trust Co

1861 Santa Barbara Dr
Lancaster, PA 17601

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 very good. It is in the 15th percentile compared to peers.
  • Mod decreased by more than 75% of peers.
Good

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 7th percentile compared to peers.
  • In the last year, LCM Decreased by 4%. While peers Increased an average of 4%.
Good

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.

  • 9% of peers have changed carriers since last year.
  • Of those who changed carriers, 4.4% decreased their LCM vs those who stayed with their current provider who saw a 5% increase.
  • Current Carrier's market share is in the 95th percentile at 6.6% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.020
2020

1.060
2019

1.060
2019
03-16-2019

1.020
2018

1.020
2017

1.020
2017
03-16-2016

1.190
2016

1.020
2016
03-16-2015

1.400
2015

1.400
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

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President
(131) 179-4093
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Benefits Admin
(042) 820-5324
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Benefits Admin
(875) 534-2423
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Benefits Admin
(667) 371-1801
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Chief Fiduciary
(868) 980-3445
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 14,916,602 $ 8,345,046 $ 6,808,819 $ 7,250,435 $ 1,869,387 $ 3,272,749 $ 9,017,941 $ 4,932,492 $ 1,253,044 $ 864,959 $ 2,769,116 $ 5,955,755
Liabilities: $ 0 $ 9 $ 2 $ 20 $ 1 $ 78 $ 1
EE Contrib: $ 1,805,114 $ 63,858 $ 3,282,780 $ 8,544,512 $ 344,581 $ 201,105 $ 934,964 $ 279,694 $ 119,229 $ 658,899 $ 528,801 $ 410,886
Emp Contrib: $ 319,398 $ 754,446 $ 176,885 $ 282,784 $ 1 $ 786,663 $ 299,305 $ 627,639 $ 48,602 $ 64,844 $ 12,023 $ 29,628
Income/Loss: $ 2,362,321 $ 8,264,329 $ 9,004,383($ 569,143) $ 7,521,867 $ 603,746($ 98,214) $ 230,420 $ 53,005 $ 27,154($ 50,571) $ 51,776
Total Income: $ 4,486,833 $ 2,991,901 $ 913,457 $ 820,600 $ 4,932,278 $ 851,645 $ 284,721 $ 325,684 $ 9,849,090 $ 354,727 $ 734,797 $ 236,365
Paid Benefits: $ 146,129 $ 33,604 $ 36,322 $ 71,970 $ 655,319 $ 66,419 $ 92,418 $ 547,255 $ 9,288 $ 306,137 $ 332
Expenses: $ 0 $ 3 $ 9 $ 3 $ 53 $ 842 $ 407 $ 961 $ 88 $ 395
  Commission: $ 509 $ 256 $ 808 $ 175 $ 668 $ 850 $ 728 $ 0 $ 12 $ 1
Net Income: $ 4,340,195 $ 6,113,952 $ 4,962,326 $ 795,890 $ 6,785,916 $ 5,980,088 $ 513,385 $ 293,781 $ 6,176,159 $ 514,735 $ 106,651 $ 534,981
Net Assets: $ 19,256,797 $ 83,197,966 $ 29,770,329 $ 1,339,719 $ 429,672 $ 2,096,293 $ 2,025,762 $ 6,228,080 $ 6,487,136 $ 4,121,114 $ 5,798,052 $ 6,221,874

Participants

202120202019201820172016201520142013201220112010
Total Participants:765296876503443090723626
Active Part.:73458711950862802364fc
Retired Part.:8b54104412e66a3eb99
Deceased Part.:1bcdaef08bc17 e515e8

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.

    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.

    2R - Participant-directed brokerage accounts provided as an investment option under the plan.

    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

202120202019
BOY Assets:($ 17,896) $ 91,449 $ 0
Liabilities: $ 99,241 $ 67,475 $ 9
EE Contrib: $ 198,020 $ 695,801 $ 34,390
Emp Contrib: $ 263,984 $ 170,202 $ 44,437
Income/Loss: $ 63 $ 97 $ 3
Total Income: $ 462,067 $ 681,572 $ 79,838
Paid Benefits: $ 303,062 $ 370,433
Expenses: $ 173,236 $ 155,301 $ 36,286
  Commission: $ 15,318 $ 83,807
Net Income:($ 29,549)($ 43,792) $ 5,808
Net Assets:($ 47,445)($ 66,857) $ 40,225

Participants

202120202019
Total Participants:531318
Active Part.:530734
Retired Part.:33c3
Deceased Part.: eea6e

Insurance

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Renewal:12-31-2021
Covered:53
  1. Stop Loss

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 150,695
Commission0% $ 0
Fees0% $ 0
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Renewal:12-31-2021
Covered:0
  1. Life Insurance
  2. Temp. Disability Insurance
  3. Long Term Disab. Ins
  4. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 0
Fees $ 0

Providers

HNWYW, OMQCSEPML & MGISLAInsurance agents and brokers
Compensation:$23,138
Relation:BROKER
NSLMPVK HCNU ZHCQPClaims processing
Compensation:$15,318
Relation:ADMIN
QMP CYJDXWV BXGCBInsurance agents and brokers
Compensation:$11,854
Relation:BROKER
GKGYXULOCLZ 8Other services
Compensation:$3,381
Relation:PATIENT ADVOCATE

Features

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

    4B - Life insurance.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.

    4Q - Other.