The seventh Retro Annual Meeting was held online on June 30. If you missed the live session, you can view it below. Here are our top five takeaways from the meeting.
- Financial stability. The Retro Program is financially secure. Strong actuarial advice and policies set by the Retro Board and Retro Advisory Committee have put the Pool in good financial position. Reserves are well within the policy
to protect from a 1 in 10 to a 1 in 20-year event.
- Safety Alliance members reduce experience factors by 22%. Safety Alliance members with an experience factor above 1.00 saw a 22% reduction in their premiums by improving their injury reporting procedures, identifying transitional
work for injured employees, and engaging leadership to build on their current safety culture.
- Leadership engagement. The programmatic focus for 2021 is to engage your governing body through adoption of a resolution supporting the safety program and proclaiming the importance of workplace safety. Next, report to your governing
body at least twice a year on the safety program.
- Members reduce injury report lag program-wide. Calendar year 2019 saw an average report lag of 24 days. In 2020 the average dropped to 13 days and has dropped to 9.3 days today. The Retro Program injury report lag goal is 5 days,
we’re not there yet, but are moving in the right direction!
- Safety grants for all attendees. All attendees at the virtual Retro Annual Meeting received a $50 safety grant. These grants can be used for a safety activity, prizes to increase attendance at safety trainings, or safety items.
Special thanks to Debbie Lund, Human Resources Manager, City of Port Orchard, for presenting to attendees on how her city reduced their injury reporting lag from 20 days to 3 days in 14 months. Debbie attributed their success to a directive
from the Mayor to management to improve safety and reduce injury report lag, as well as a simplified injury report. Get a copy of Port Orchard’s injury report.