Today’s issue of WorkCompRecap features the recent release of California’s State Fund’s Annual Report for 2012, which comes as it nears the three-year mark of restructuring which was aimed at consolidating operations, shrinking its real estate footprint, and reducing operating expenses.
According to the report, State Fund saw a significant increase in income before dividends over last year, coming in at $458 million, an increase of $279 million. Annual fixed expenses have also been reduced by $150 million compared to 2009, and State Fund plans to achieve annual savings of over $300 million by the end of 2014.
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