SAIF to pay dividends to employers

The Oregon State Treasury’s prudent investment decisions are paying off for employers and workers. State Treasurer Ted Wheeler applauded the news that SAIF Corp., Oregon’s nonprofit workers compensation insurer, will pay $150 million in dividends. The money will help employers stay competitive and to invest in their businesses and workforces, he said.

“This is just another example of how Oregon is a great place to do business,” Wheeler said. “Oregon’s workplaces are getting safer, and the Treasury’s prudent investment management will help to reward employers for that exemplary record.”

The State Treasury manages the SAIF fund, which stood at $4.1 billion on Dec. 31, 2010. The fund generated returns of 10.9 percent in 2010, beating the comparison benchmark of 10.3 percent.

Treasury oversaw a change in the SAIF investment mix in 2010, which led to a profitable sell-off of equities, as well as a shortening of the duration in the bond portfolio from seven to five years. The fund moved from a 15 percent equities target to a more conservative 10 percent, as a result of an asset-liability study that was completed.

SAIF says approximately 47,000 current and former customers will share the $150 million dividend. The amounts sent to each customer will be roughly the equivalent of 20 percent of their insurance premiums in 2009 and 2010.

A release from SAIF announcing the dividend can be viewed at Individual dividend information will be made available by SAIF to policyholders starting July 8.

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