California Commission on Health and Safety and Workers’ Compensation

SIBTF funding comes mainly from annual assessments collected from insured and self-insured employers with the share of other revenues collected in total revenue falling from about 20 percent in FY 2014-2015 to 5 percent in FY 2020-2021 and less than 1 percent in FY 2023-2024 and FY 2024-2025. As Figure 93 shows, total SIBTF revenue from FY 2014-2015 to FY 2020-2021 more than quadrupled overall after some fluctuation and spikes, and then tripled from FY 2020-2021 to FY 2021-2022. After a 9 percent decrease from FY 2021-2022 to FY 2022-2023, the total SIBTF revenue more than doubled from FY 2022-2023 to FY 2024-2025. Among the reasons for this significant increase in revenue assessments from FY 2020-2021 to FY 2024-2025, could be increases in both the number of paid claims and the amount paid per claim, changes in the timing of permanent disability (PD) payments in which DIR must start paying SIBTF benefits to qualifying workers at the same time that the employer starts paying PD benefits, SIBTF benefits paid in addition to PD payments from the employer, instead of upon a declaration of permanent and stationary status, and overall increases in PD benefits, which make it more feasible for injured workers to pursue payments from the SIBTF fund.