State Fund Declares $105 Million Dividend

<div class='html-Content' xmlns="https://www.w3.org/1999/xhtml"> <div class='head-Content'> <meta http-equiv="Content-Type" content="text/html; charset=UTF-8"> <title>State Fund Declares $105 Million Dividend</title> <meta name="keywords" content="State Fund Declares $105 Million Dividend"> <meta name="description" content="State Fund Declares $105 Million Dividend"> <link rel="stylesheet" type="text/css" href="/stylesheets/mobile_styles.css"> <style type="text/css">  </style> <style type="text/css" media="handheld, only screen and (max-device-width: 480px)">  </style> <link href="/stylesheets/statefund_styles.css" rel="stylesheet" type="text/css" media="screen and (min-width: 481px)"> </div> <div class='body-Content' id=""> <div class="topheader"><a href="/index.asp" name="home"><img src="/images/state_fund_logo.gif" alt="state fund logo" border="0" align="left"></a> <div class="offscreen"><img src="/images/offscreen_transparency.gif" alt="" width="250" height="20" align="center"></div> <ul id="accessibility" class="offscreen"> <li><a href="#skipnavigation" accesskey="0">Skip past navigation</a></li> <li><a href="#footer" accesskey="4">Skip to table of contents</a></li> </ul> <div class="offscreen"><img src="/images/offscreen_transparency.gif" alt="" width="250" height="20" align="center"></div> <div class="topheaderRight"> <div class="topnav"> <div class="topnavRight"><a href="/index.asp" accesskey="5">Home</a> | <a href="/contact/ContactUs.asp" tabindex="1">Contact us</a></div> <div class="topnavLeft"><a href="/employers/Index.asp" name="Employer">EMPLOYERS</a> | <a href="/broker/Index.asp" name="Broker">BROKERS</a> | <a href="/provider/Index.asp" name="Medical Provider">MEDICAL PROVIDERS</a> | <a href="/employees/Index.asp" name="Employee">EMPLOYEES</a> | <a href="/statecontracts/Index.asp" name="State Contracts">STATE AGENCIES</a></div> </div> <div class="topPhonenumber2"><a href="/CustomerSupport/Index.asp"><strong><font size="4px">Customer Support</font></strong></a><br>888-STATEFUND (888-782-8338)</div> <div class="topMission">Established in 1914 by the state legislature, State Fund is California's most reliable provider of workers' compensation insurance and a vital asset to California businesses. State Fund supports California's entrepreneurial spirit and plays a stabilizing role in the economy by providing fairly priced workers' compensation insurance, helping California employers keep their workplaces safe, and restoring injured workers. </div> </div> <br><br><br> </div> <div id="mainNav2"> <div id="mainNav3"> <div class="offscreen"><img src="/images/offscreen_search.gif" alt="" width="250" height="20" align="left"><br> <br> </div><div class="search"> <form name="search" action="https://search.scif.com/StateFundCAsearch.cgi" method="get"><input value="Search" name="query"></form> </div><div class="offscreen"><img src="/images/offscreen_transparency.gif" alt="" width="250" height="20" align="center"><br> </div><ul> <li class='on'><a href='/about/About.asp' name='About'>About</a></li><li><a href='/policy/ObtainAPolicy.asp' name='Obtain a Policy'>Obtain a Policy</a></li><li><a href='/claims/ClaimsSvcs.asp' name='Claims Services'>Claims Services</a></li><li><a href='/safety/SafetyAndSeminars.asp' name='Safety & Seminars'>Safety & Seminars</a></li><li><a href='/forms/Forms.asp' name='Forms'>Forms</a></li><li><a href='/careers/Index.asp' name='Careers'>Careers</a></li> </ul> </div> </div> <a name="skipnavigation"></a> <div class="mainArea"> <div class="subright"> <div class="sidesubsubnav"> <div class="subheadr">News Archive</div> <ul> <li><a href="/news/News2013.asp">2013 »</a></li><li><a href="/news/News2012.asp">2012 »</a></li><li><a href="/news/News2011.asp">2011 »</a></li><li><a href="/news/News2010.asp">2010 »</a></li><li><a href="/news/News2009.asp">2009 »</a></li><li><a href="/news/News2008.asp">2008 »</a></li> </ul> </div> </div> <div class="subleft"> <div id="subNav"> <ul> <li><a href='http://www.statefundca.com/about/history/Index.html'>History</a></li><li id='subNavHightlight'><a href='/news/NewsAndMedia.asp'>News & Media Center</a></li><li><a href='/about/Leadership.asp'>Leadership</a></li><li><a href='/about/CodeOfConduct.asp'>Code of Conduct</a></li><li><a href='/about/IntegrityInAction.asp'>Ethics and Privacy Hotline</a></li><li><a href='/about/FAQs.asp'>FAQs</a></li><li><a href='/careers/Index.asp'>Careers</a></li><li><a href='/about/Community.asp'>Corporate Social Responsibility</a></li><li><a href='/about/VendorGuide.asp'>Procurement</a></li><li><a href='/about/Privacy.asp'>Privacy</a></li><li><a href='/news/cpra/PRO.asp'>Public Records Office</a></li> </ul> </div> </div> <div class="submiddle"> <p> </p> <h1>State Fund Declares $105 Million Dividend</h1> <p><em>15% distribution will positively impact the bottom lines of up to 75,000 California businesses</em></p> <h3>August 22, 2019</h3> <p><strong>Pleasanton, CA</strong>--<a href="/employers/Index.asp">State Compensation Insurance Fund's</a> Board of Directors today announced plans to distribute an approximate $105 million dividend to its qualifying policyholders with policies that took effect between Jan. 1 and Aug. 19, 2019. This dividend equals approximately 15% of the estimated annual premium reported in State Fund’s mid-year 2019 financial statement.</p> <p>State Fund’s Board will consider dividends again for the remainder of the 2019 policy year at its February meeting in 2020. While the board cannot guarantee future dividends, this mid-year declaration does not affect the possibility of a future payout for the remainder of the 2019 policy year.</p> <p>Through July of this year, State Fund is reporting over $662.5 million in premium and over $78.6 million in realized capital gains. Additionally, State Fund has implemented several initiatives over the past few years that have led to improved claims outcomes for injured workers and employers. These efforts, combined with the general improvement in the California workers’ compensation insurance environment, have led to a significant decrease in the cost of its claims. This early dividend declaration reflects these positive developments. </p> <p>“Declaring a dividend at this time helps tens of thousands of California businesses better understand their workers’ compensation insurance costs for the year and plan accordingly,” said Vern Steiner, State Fund’s President and CEO. “Thanks to effective investment management and improved claims outcomes, we are in a strong, stable financial position and want to return money to our policyholders as quickly as possible.”</p> <p> Since its creation in 1914, State Fund has paid out more than $5 billion in dividends to policyholders — significantly more than any other California workers’ compensation carrier over that time. </p> <p> State Fund policyholders will begin to receive dividend payments during the second half of next year. </p> <p><em>Disclaimer: Under California law it is unlawful for an insurer to promise the future payment of dividends under an unexpired workers' compensation insurance policy or to misrepresent the conditions for dividend payment. Dividends are payable only pursuant to conditions determined by the Board of Directors or other governing board of the Company following policy expiration. It is a misdemeanor for any insurer or officer or agent thereof, or any insurance broker or solicitor, to promise the payment of future workers' compensation dividends. Past dividend performance is no guarantee of an insurer's future dividend performance.</em></p> <p> </p> <center> <em>###</em><br> </center> <em> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"> <br> <p><em>Established in 1914 by the state legislature, State Fund is California’s most reliable provider of workers’ compensation insurance and a vital asset to California businesses. State Fund supports California’s entrepreneurial spirit and plays a stabilizing role in the economy by providing fairly priced workers’ compensation insurance, helping California employers keep their workplaces safe, and restoring injured workers.</em></p> </em> </div> <div style="clear:both"></div> </div> <a name="footer"></a> <div class="footerArea"> <div class="footerbg"> <ul> <li> <div class="footerSpacer"></div> <a href="/broker/Index.asp">Brokers</a> <br> <a href="/employers/Index.asp">Employers</a> <br> <a href="/employees/Index.asp">Employees</a> <br> <a href="/fraud/Fraud.asp">Fraud</a> <br> <br> </li> <li> <div class="footerSpacer"></div> <a href="/provider/Index.asp">Medical Providers</a> <br> <a href="/statecontracts/Index.asp">State Agencies</a> <br> <a href="/policy/ObtainAPolicy.asp">Obtain a Policy</a> <br> <a href="/about/VendorGuide.asp">Vendor Guide</a> <br> <br> </li> <li> <div class="footerSpacer"></div> <a href="/claims/ClaimsSvcs.asp">Claims Services</a> <br> <a href="/safety/SafetyAndSeminars.asp">Safety & Seminars</a> <br> <a href="/forms/Forms.asp">Forms</a> <br> <a href="/about/Community.asp">Community</a> <br> <br> </li> <li> <div class="footerSpacer"></div> <a href="/about/About.asp">About Us</a> <br> <a href="/about/history/index.html">History</a> <br> <a href="/contact/ContactUs.asp">Contact Us</a> <br> <a href="/CustomerSupport/Index.asp">Customer Support</a> <br> <br> </li> </ul> <div style="clear:left"></div> </div> </div> <div class="footerArea" align="center">Copyright © 2000-2020 State Compensation Insurance Fund<br> <a href="/about/TermsOfUse.asp">Website Terms of Use</a>, <a href="/about/PrivacyPolicy.asp">Website Privacy Policy</a> and <a href="/pdf/e26000.pdf" target="_blank">Information Sharing Disclosure</a></div> </div> </div>