Workers' comp. fund program return highest amount ever

LANSING, Mich. - The Michigan Restaurant Association (MRA) announced that association members participating in the Michigan Restaurant and Lodging Fund (MRL Fund) will be receiving the largest return on profit the Fund has ever made.

The MRL Fund, the association's workers' compensation fund, is returning $3.675 million of profit back to its members, making this the largest return in MRL Fund history. The return brings the total profits returned to more than $31 million since the Fund's inception in 1992.

"It's never been harder than it is right now to operate a restaurant in Michigan," said Rob Gifford, president and chief executive officer of the MRA. "This is great news for Michigan restaurateurs. The numbers tell the story. Restaurateurs participating in the MRL Fund are seeing greater and greater returns."

The MRL Fund was established in 1992 to help businesses in the restaurant industry control their long-term workers' compensation costs. The Fund's profits, which include premium dollars that are not used to pay administrative costs and claims, are returned back to its members along with investment income. Over time, Fund members receive an average of 45-50 percent of their premium back, in the form of premium credits.

"The mission of the Michigan Restaurant Association is the success of our members," said Gifford. "The Michigan Restaurant and Lodging Fund is one of the best tools available to help make our members' success a reality."

For members currently not participating in the Michigan Restaurant and Lodging Fund, contact 360 Risk Management for more information.

The Michigan Restaurant Association (MRA) is the recognized leader of Michigan's hospitality industry, providing essential services to the foodservice community.  Founded in 1921, the MRA represents more than 4,500 Michigan foodservice establishments.  The industry plays an integral role in Michigan's economy, employing more than 423,600 people and creating more than $13.1 billion in annual sales.

From: Michigan Restaurant Association, reprinted with permission.