The MTM Board and Management position has been simple: If member companies are open, MTM needs to be open supporting member activities. Claims still happen, Loss Control services are needed, policy and billing changes occur. Because we never wanted our claims representative to be talking with a member company or injured worker in open space, every MTM employee has a separate office with a door. With this office layout, we have required spacing working at the office.
On December 23rd, the MTM Board approved a $3 million member dividend declaration to be paid March 1, 2021. Let me give you more details how the MTM member Board and MTM member Finance Committee came to this decision. Dividends are paid out of annual profits. While the year is not yet over, we have some predictions of what the year looks like, and all, at this point, look to show that 2020 was a profitable year. It is always the goal of the Board Committees and full Board to return profits to our member-owners. So, this process started on Thursday, December 3rd, with the regularly scheduled Board Finance Committee. This Committee is made up of members: Teena Kowalski – Repair Clinic, Barry Kavanagh – Avalon and Tahoe, Gary Sievert – Wellington Industries, Andrew Varenytsia – Romeo Rim, Jerry Decker – Precision Boring, Jack Accardo – Haller International Technologies, Joe Keppler – Shuert Industries and Gerd Walter – Creative Automation and Kurt Heuser. The Committee members took the management recommendation of $2.5 million and questioned management on assumptions and details for the 2020 profit projection. At the end of a hardy discussion, the Committee felt the profit would be likely higher than management suggested, and decided that instead of the $2.5 million profit estimate $3 million was more probable.
Every year, millions of employers are required to keep track of their workers’ injuries and illnesses by recording them in what is often called the “OSHA Logs.” The OSHA Logs consist of three separate documents: the Form 300 Log of Work- Related Injuries and Illnesses, the Form 300-A Summary of Work-Related Injuries and Illness Incident Report. It is required for all applicable employers (employers with 10 or more employees in certain industries) to retain the last five years of each of these documents. MIOSHA (Michigan Occupational Safety and Health Administration) will request to see them as needed during inspections and enforcement actions.
Under a Final Rule (Federal Registry Doc # 2016-10443) that became effective on January 1, 2017, OSHA revised its requirements for recording and submitting records of workplace injuries and illnesses to require that some of this recorded information be submitted to OSHA electronically for posting to the OSHA website via the Injury Tracking Application (ITA). After additional public commentary and feedback from employers, a second Final Rule (Federal Registry Doc # 2019-00101) was published by OSHA amending its original recordkeeping regulation. The current Final Rule was published on January 25, 2019, and made effective on February 25, 2019.
