Governance

Governance

 The California Labor Code requires that all self-insured private-sector employers be members of the Security Fund, subject to assessments by the Security Fund to discharge its legal responsibilities. Member assessments are necessary to sustain Fund operations, including on-going workers’ compensation expenses, and to ensure that adequate assets are available to cover known and potential workers’ compensation obligations arising from the default of private self-insured entities. Members that default on their claim’s liabilities relinquish their membership.

 A copy of the Fund’s Bylaws is available here .

 THE BOARD OF TRUSTEES

 The Board of Trustees (Board) consists of eight trustees. There are seven voting seats filled by elected representatives of actively self-insured member employers. The eighth trustee is a non-voting seat filled by the Director of the Department of Industrial Relations or their delegate.

 The Board is responsible for:

 Setting governing policies, and 
 the annual election of officers

 Trustees meet as scheduled throughout the year to conduct board business. 

The Board has chartered four separate committees to fulfill responsibilities delineated under their charter. These committees are Audit, Credit, Claims, and Finance.