Calif. Commissioner Responds to SCIF Rate Decrease

June 7, 2004

  • June 7, 2004 at 7:04 am
    Brad Barnes says:
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    Like always Garamendi says just enough to get his name in the paper and does not provide all the information required to understand the SCIF. SCIF continues to try and operate in a fincially sound manner. 7% is in line with projected savings on current year and waiting for majority of changes to take effect next January. What he fails to point out is that the SCIF is a non-profit and if the rates are to high, and SCIF turns a profit, those profits go back to the policy holders as dividends. How may private companies are offering dividend plans?

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