Sixty-eight participating members of the Associated School Boards Protective Trust Workers’ Compensation Fund will soon receive their portion of the fourth and final $500,000 payment of a $2 million total dividend.
The Protective Trust Board of Directors voted in 2012 to distribute the excess capital over a four year period after the fund’s actuaries agreed there was an excess capital in reserves and a dividend was the best way to return the capital to the members.
“Our fund is owned by member school districts so the dividend acts as a mechanism to return excess capital in the fund to its rightful owners,” ASBPT Director Matt Flett said.
The dividend payment was achieved while the fund remained on strong financial ground for the long-term.
“The Work Comp Fund continues to be very financially and actuarially sound,” Flett said.
“We look forward to the continued strong financial status within the fund, minimal increases to annual premium and providing an affordable and comprehensive Workers’ Compensation program, which includes expansion of our onsite loss control services and dedicated advocacy efforts on legislation that could impact the fund.”