State Compensation Insurance Fund of California

The State Compensation Insurance Fund was established in 1914 by the California Legislature as part of the passage of the Workmen's Compensation Insurance and Safety Act, also known as the Boynton Act. The statute created a compulsory, no-fault workers' compensation system in which employers are required to carry insurance to cover employees who are injured or become ill on the job. The Fund provides workers' compensation insurance to California employers at cost, in competition with private insurance carriers. It is the largest provider of workers' compensation insurance in California. Since its founding, its home office has been in San Francisco, first located at 525 Market Street. A new building at 525 Golden Gate Avenue was dedicated on April 25, 1960, the day this time capsule commemorates. In 1977, the State Fund moved to a new 16-story home office building at 1275 Market Street, where it remains today. The building at 525 Golden Gate Avenue was torn down in 2009 to build a new Public Utilities Commission Building. It had sat empty since it was damaged in the 1989 Loma Prieta earthquake.

From the description of State Compensation Insurance Fund time capsule, 1921-1960 (bulk 1958-1960) 1958 - 1960 (San Francisco Public Library). WorldCat record id: 778803859

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