MEMBER'S BENEFIT: WORKERS COMP PLAN
The MMLA has some exciting news! We have partnered with the Michigan Bankers Association to allow access to their self-funded Workers Compensation Fund. Now, any MMLA member's company can participate in this program!!
This is a self-funded multiple employer workers compensation program, regulated by the State of Michigan’s Insurance Agency, utilizing pooled premiums from its members to pay workers’
compensation claims and related operating expenses. The Fund is governed by a Board of Trustees, CEOs and HR Officers of participating members, elected by The Fund members for three (3) year service terms. The MBA Service Corporation serves as the Administrator of The Fund, managing day-to-day operations and ensuring self-funding requirements are maintained according to State regulation.
The Fund operates on a calendar year with premiums based on estimated payrolls. At the conclusion of The Fund year, members undergo an audit supplying actual payrolls. A final statement for The Fund year is prepared resulting in additional premium due or reimbursement of over estimated premium.
Click here do download a copy of the program with all the details of this fund and to learn how your company might be able to take advantage of the group savings. You must be a qualifying MMLA member to participate.
Not currently a MMLA member - click here to learn more about how to join!