Workers Comp Experience Mod; Annual 401(k) limits

Major Changes Coming for Workers Comp Premiums

by Rob Hoenscheid, Roeding Insurance Group 

Kentucky employers could be facing significant increases in their workers compensation premium. And they may not even be aware that the increases are coming. 

The method for calculating an employer's Experience Modification (EM) factor has changed. These changes will make it much more difficult for employers to achieve a favorable EM rating. Construction companies are particularly vulnerable to the consequences of the change because contractors with an EM factor in excess of 1.00 are often disqualified from bidding.
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That’s a Good Question

Q. Are there any limits to how much of the Prevailing Wage Required Fringe a company can contribute to their 401(k) Pension Plan?
A. Yes...
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What's New

The latest Customer Reference Manual for Manual Data Entry Users  (i.e. QuickBooks, TCM, Peachtree) is now available. The manual, with accompanying instruction video, is available for Advantage Resource customers via download from the company file share system.

Contractor Spotlight

Ken Neyer Plumbing celebrates its 41st year in business..
  
KNP (http://www.neyerplumbing.com) is based in Cleves, Ohio, 20 minutes west of downtown Cincinnati. Founded by Ken Neyer Sr. and Janet Neyer in 1972, the company is now owned and managed by sons Ken Neyer Jr. and Jim Neyer. KNP is a full service plumbing company with a bulk of its business in new commercial construction. The company also has an active excavation and site utility division, along with a successful service and remodel branch that serves the entire tri-state region. 

Recent notable company projects include The Ascent (2006), Stratford of Kenwood (2009), Kentucky Speedway (1999 & 2011), Cincinnati Masters Tennis Facility (2010 & 2012), Three Rivers K-12 School (2013), and U-Square at The Loop (2013). KNP prides itself on providing clients with a complete plumbing package from design and construction through building maintenance after original project completion.

We appreciate our relationship with Ken Neyer Plumbing and the Neyer family. We value their business and support and wish them continued success.
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