Scott Silberman Mar 26, 2025 a 11:13 am PDT

Legislative changes in 2004 and 2014 have reduced the pure premium rate in California for each $200 in payroll from $6.29 in 2004 to $1.38 in 2024, leading to annual savings of approximately $54.01 billion for employers. It was known that sibtf would increase with these reforms, but even if the current cost of SIBTF reaches 1 billion a year, the employers are still saving 53 billion a year from changes in rating schedule and apportionment. Most of the people getting SIBTF would have received life pension or 100% awards under the old system. This increase was expected and some studies have noted that any changes to SIBTF should be accompanied by rollbacks to some of the 2004 and 2014 changes.