Pinnacol Assurance Named One of Nation’s Best for Workers Over 50

Award Reflects Pinnacol’s Status as one of Colorado’s top employers


DENVER, Sept. 24, 2008 - Pinnacol Assurance, Colorado’s leading workers’ compensation insurer, has been recognized nationally by AARP as one of America’s “Best Employers for Workers Over 50” for the fourth consecutive year. Pinnacol placed 25th on the list of 50 companies nationwide and is the only Colorado company to receive the distinction.

“Just over 25 percent of our workers are 50 or older,” said Ken Ross, president and CEO of Pinnacol Assurance. “They bring an enhanced level of business knowledge and play a critical role in mentoring our less experienced workers, which helps ensure our financial success. We are honored that AARP has once again recognized the work environment we have created for our mature workers.”

AARP, the nation’s largest non-profit membership organization for people age 50 and over, recognized Pinnacol as an employer that offers progressive workplace policies and benefits to meet the needs of an increasingly older workforce. The U.S. Bureau of Labor statistics project that by 2016, 33 percent of workers will be 50+, up from 28 percent in 2007.

Among the benefits that appeal to Pinnacol’s mature employees are flexible scheduling options, including compressed workweeks and telecommuting, and a generous paid-time-off bank that can be tapped for any reason, including vacation or sick days. The company matches a portion of the employee contribution to its 401(k) plan, allowing older workers to accelerate their retirement savings. Pinnacol pays the major portion of medical, dental and vision insurance premiums for eligible employees, and contributes a portion of the premium cost for dependent coverage as well.

To help mature workers update their skills, Pinnacol offers a variety of on-site training and certification programs. To address health issues, the company offers free flu shots, an on-site physical therapist, and weekly low-cost chair massages. Pinnacol employees can take also advantage of the company’s on-site wellness center and low-cost exercise classes as well as discounted health club memberships.

“Labor experts predict that by 2012 there will be 3.3 million fewer workers than jobs,” said Carole Sumption, Pinnacol’s vice president of human resources and corporate services. “To address that, we have made a conscious business decision to create an environment that attracts and retains those who want to remain in the labor force longer. In the last two years, 19 percent of our hires have been 50 or older. They bring vital expertise and we know that our customers and the rest of our employees benefit from their presence.”

About Pinnacol
For more than 90 years, Pinnacol Assurance has been Colorado’s assured and trusted source of workers’ compensation insurance for Colorado employers. Through its affiliated agents, Pinnacol provides comprehensive, competitively priced coverage; immediate attention to claims; a highly qualified network of medical providers; and proactive safety programs to approximately 60,000 Colorado businesses. Over the past four years, Pinnacol has returned $227 million in general dividends to its policyholders statewide – a mark of the company’s stability and strong financial health.

Contact:
Suzi Stolte
Associate Vice President of Communications and Public Relations
303.361.4777
suzi.stolte@pinnacol.com