At their May board meeting the  GSRMA Board analyzed GSRMA’s 23/24 Actuarial studies for both the General Liability and Workers’ Compensation programs. They then applied the current funding levels of the pool against the Capitol Target Reserve policy to determine if there were funds available for a dividend. Based on the Board policy and funds available the Board voted to declare a dividend in the Liability Program. The Board set the dividend at $250,000 to be applied as a credit against a members’ 23/24 Liability contribution. The dividend amount will be based on a member’s percentage of the total ten year contribution collected by GSRMA as of 7/1/2021. GSRMA continues to be funded above the 85% confidence level (extremely strong). This dividend marks the Board’s continued philosophy to give back excess funds to the membership to help keep rates/contributions down. This dividend is equal to an approximate 4% decrease in the 23/24 Liability contribution membership wide. Given the extreme turmoil in the liability markets worldwide this is an excellent result that all GSRMA members should be proud of.

This dividend will be applied to your 23/24 invoices which will be arriving by the end of May. If you have any questions about the dividend, please reach out to our Member Services Team.