2017 financial report

green-dollar-currency-symbol_fyLRIL8O_LA significant benefit of a self-funded workers’ compensation pool, such as KERIT, is the financial advantage to members. Unlike traditional insurance providers, a pool allows members to capture a portion of investment income

Consider the plight of a city or county that does not belong to an insurance pool: the government buys coverage through a private insurer. The premium pays for the losses, overhead and reinsurance costs of the insurance company. The company invests what’s left, earns investment income and keeps the profit.

A member of an insurance pool, on the other hand, saves money in two ways. Members pay reduced premiums, and state law allows the trust to grant discounts off the standard premium a city or county would normally pay to a private insurer. Members also receive dividends, that portion of the trust’s premiums and investment income remaining after the trust has paid claims and operating costs.

The Trust has completed its thirty-second year of pooling workers’ compensation coverage.

Since inception, the members have accumulated over $26 million in benefits. KERIT’s cumulative performance since inception remains outstanding with a 36 percent return.

As a result of its success, KERIT is able to refund premiums to members each year. The Board will consider additional refunds at their August meeting.

Seven steps to integrate safety and health into business value

The following seven steps will help health and safety professionals adopt a system for measuring the performance of health and safety functions in the context of their value to an organization, and for communicating results to business and financial executives. Read more

Rigging awareness training

rigging-trainingA rigging awareness training will be offered on May 3, 10 a.m. to 12 noon, at Sylvester Powell Jr. Community Center, 6200 Martway, Mission, Kansas. All are welcome to attend the free, two-hour seminar, but seating is limited to 80 people, so please register to reserve your spot. Registration closes Friday, April 29 at 4 p.m. or when the class is filled. Read more

2015 PLUS Program scores

PLUS-score-table3KERIT is pleased to announce that the majority of the membership has attained the highest award of 10 total points, a score which earns these members up to a 5 percent premium discount. To the right are the KERIT members’ PLUS discounts. KERIT congratulates each member entity and thanks you for your hard work and dedication to the safety and health of your employees. Read more

KERIT welcomes new trustees

Four new trustees have joined the board since the first of the year: Trisha Purdon from Coffeyville, Shawna Settles from Junction City, Jim Forge from Leavenworth and Will Crow from Winfield. Three of them attended a new trustee orientation before the March meeting to learn more about KERIT and their roles as trustees.

KERIT Board elects new officers

Every year, The KERIT Board nominates individuals to the positions of chair, 1st vice chair and 2nd vice chair. This year, the nominating committee nominated the following individuals:

New-office-table

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Active shooter training presentation

bigstock-Teen-With-Handgun-3035313At the March 8 KERIT trustee meeting, Chief Dan Field from the Johnson County Park & Recreation District provided a training session on active shooter situations. He showed a PowerPoint presentation and discussed the profile of an active shooter, steps in safely responding in an active shooter situation, responding appropriately when law enforcement officials arrive on the scene, and the need for training, planning and practice for active shooter scenarios. Read more

Nov. 2015 KERIT Enews

Read the November 2015 KERIT Enews >>