Lee County receives check from ACCG

Aug. 14--LEESBURG -- Thanks to a relatively low number of recent injury claims Lee County was the beneficiary of a substantial, one-time return from ACCG (Association County Commissioners of Georgia), which handles the county's worker's comp insurance program.

ACCG officials and members of the ACCG Insurance Programs Board of Trustees were in Leesburg Friday to present return checks to various South Georgia entities following the organization's recent decision to eliminate one of it's fund managers.

According to a press release from ACCG, the organization handles the worker's compensation programs for 166 counties and authorities throughout the state through the ACCG-Group Self-Insurance Workers' Compensation Fund, which was created in 1982.

Annual premiums paid by program members are used to pay injured workers, and the portion not used for that purpose is then invested to enhance member benefits. This year the Board of Trustees decided it was in the best interest of the GSIWCF to eliminate one of three money managers that handles investment portfolios on behalf of the program.

In order to transfer the terminated money manager's portfolio to the remaining managers, investments had to be terminated, which lead to an influx of realized gains. Using the guidance of outside consultants to assess the strength and stability of the program, the board of trustees agreed to return a potion of the gains to the participating organizations. Organizations participating in the worker's comp insurance program since 2014 were eligible for the one-time return.

"What's happened is we fired one of our money managers because they were underperforming, and we ended up $5 million to the good," said ACCG Executive Director Ross King. "We sat with our contractors and consultants, actuaries and auditors, and staff made a recommendation to me that we were in a position where we could go ahead and go beyond our reserve fund capacity and return the money to our membership. We have 164 checks that we're giving out across the state. A couple of checks are in the two to three hundred dollar range, but the largest check was $209,000."

King went on to say that the funds being returned to the membership can be used as each group sees fit. He also reminded those present that something like this could not happen if those organizations were not a part of a mutual program like ACCG's GSIWCF.

"It can be used for any particular purpose, but again you wouldn't have this type of opportunity if you were in a local circumstance," he said. "We're unique in that regard."

Indeed, Lee County Commission Chairman Rick Muggridge, who in addition to accepting the check on the county's behalf also serves on the ACCG's retirement fund board, said that as someone who works in insurance he's thankful the county is part of a mutual company.

"I'm an insurance man, and I never bring people dividend checks," said Muggridge. "This is the beauty of a mutual company; it's owned by its customers and so we share in the profits. Which is great."

Muggridge added that the commission has not yet decided how to use the influx of money, but that he felt some kind of thank-you was in order for the county employees who have continued to put safety first while serving their community.

"We've talked about some options, but we haven't decided on anything yet," the chairman said. "We're just thankful to the men and women who serve our county and do it safely and for their conscious work to make our county a safer place."

According to the most recent five-year analysis, the county has seen only 169 worker's comp claims totalling $561,547.50. The county's premium for last year's participation in the program was $307,790.

In addition to being a member of the ACCG insurance program, the county also utilizes ACCG expertise in effectively managing the operations of the county government. Muggridge said ACCG's support of county government and elected officials is invaluable.

"They're our partner, and they're who we call first when we have a strategy problem, a legal problem ... they are just an incredible resource for a county commissioner," Muggridge said. "Because everybody that gets elected, when you're elected the first time, you go from being a citizen to a citizen-representative. They're the people that help you understand what your responsibilities are. Just phenomenal. I love ACCG."

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