State Compensation Insurance Fund: executive and management appointments.

Existing law provides for the existence of the State Compensation Insurance Fund (SCIF) to be administered by a board of directors for the purpose of transacting workers' compensation insurance, and insurance against the expense of defending any suit for serious and willful misconduct, against an employer or his or her agent, and insurance for employees and other persons of the compensation fixed by the workers' compensation laws for employees and their dependents. Existing law requires the board of directors of SCIF to appoint a president, a chief financial officer, a chief operating officer, a chief information technology officer, a chief investment officer, a chief risk officer, a chief medical officer, a chief actuarial officer, a chief claims operations officer, a chief of internal affairs, and a general counsel. Existing law also requires the board of directors to set the salary for each of those positions. This bill, among other things, would authorize the board to appoint additional executive and management positions, including a chief underwriting officer and a pricing actuary, among others. The bill would also require that the board set the salary for each of the executive or management positions in amounts that are reasonably necessary to attract and retain individuals of superior qualifications and to submit its salary-setting criteria, including salary surveys, to the Department of Human Resources. The bill would require the board, by September 1, 2018, and subsequently on a biennial basis, to make a report to the Legislature, as specified, regarding the information submitted to the Department of Human Resources and the salary and total compensation of each position appointed by the board.