State Compensation Insurance Fund
The State Compensation Insurance Fund (State Fund) is a
State Fund was created by the Boynton Act of 1913, and it started operations in 1914. Around that same time, the voters amended the
The Legislature is hereby expressly vested with plenary power, unlimited by any provision of this Constitution, to create, and enforce a complete system of workers' compensation...including the establishment and management of a state compensation insurance fund...[3]
In May 2014, State Fund reported
California is one of 21 states with a competitive state fund in the workers' compensation insurance market.[7]
In 2010, State Fund implemented a plan to redesign operations and reduce costs for California employers. In 2013, State Fund announced[8] that it reduced annual fixed expenses by $300 million. These savings will help State Fund maintain fair pricing and bring greater value to more California employers.
Notes
- ^ California Labor Code Section 11773.
- ^ California Labor Code Section 11781.
- ^ California Constitution, Article XIV, Section 4.
- ^ State Compensation Insurance Fund. "2013 Annual Report".
- ^ Workers' Comp Executive. "Here's the Surprising CA Market Share Data".
- ^ State Compensation Insurance Fund. "About State Fund".
- ^ AASCIF explanation of types of state funds.
- ^ State Compensation Insurance Fund. "2013 Annual Report: Message from the President".