Bill Would Revise State Fund Investment Rules

California’s State Compensation Insurance Fund would have more discretion with its investment portfolio, under recent amendments to a bill in the state Senate. Sen. Susan Rubio, D-Baldwin Park, on Wednesday added language to SB 713 that would extend until 2027 a provision authorizing the state-chartered carrier to invest an aggregate maximum of 20% of the money in excess of admitted assets over liabilities and required reserves in the stock of certain corporations and mortgage-related investment instruments. A current provision authorizes such investments through Jan. 1, 2025....