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State Fund Today

State Fund Declares Dividends

State Fund
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State Fund’s Board of Directors has announced plans to distribute two separate dividends for policy year 2024.

First, we are declaring a 15 percent EAP dividend for qualifying policyholders with policies that took effect between January 1, 2024, and December 31, 2024. This dividend is approximately 15 percent of the estimated annual premium (EAP) reporting during that period, equal to approximately $149 million. This is the sixth consecutive year we have declared an EAP dividend.

Second, we are declaring a 7.5 percent large account safety dividend (LASD) for qualifying policyholders with policies that took effect between January 1, 2024, and December 31, 2024. Policyholders with standard premium of $500,000 or greater at date of policy inception may qualify for this dividend if they meet all the eligibility criteria. The LASD is approximately $6 million.

Payment of the dividends for eligible policyholders is dependent on the timing of final audit of the policy and payment of final bill and will occur no sooner than 18 months after policy inception. The earliest checks will be issued is during the second half of 2025.

We will communicate with our brokers as we get closer to the delivery of the dividend checks.

If you have any questions, please contact your marketing representative.

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. Forfeiture of a right to, reduction in the amount of, or delay in the payment of a policyholder's dividend due to the policyholder's failure to accept renewal of the policy or subsequent policies issued by the same insurer is illegal and constitutes an unfair practice.