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State Fund Financial Reports

Information on this page is provided to help L&I's constituents better understand how Washington State's Industrial Insurance Fund (known as the "State Fund") is managed.

Your Premium Dollars at Work

The publication, Your Premium Dollars at Work (F200-027-000), provides an overview of the programs and services funded with your insurance dollars. Nearly 84% of the State Fund payments from July 1, 2015, through June 30, 2016, were spent on medical treatments, partial wage replacement, disability awards, and pension benefits for injured workers.

State Fund financial information reports

These reports are prepared in conformity with the Statements of Statutory Accounting Principles as promulgated by the National Association of Insurance Commissioners, as would be required of any property and casualty insurance enterprise in the United States when reporting its financial condition to insurance regulators. This accounting basis is used to allow regulation of insurance solvency and the stability of premium rates.

These reports show only the Basic Plan that includes the following:

  • Accident.
  • Medical Aid.
  • Pension Reserve accounts combined.

These Industrial Insurance Fund Financial Information reports typically become available in January for the preceding fiscal year ending June 30.

The Workers' Compensation Program also issues a Comprehensive Annual Financial Report (CAFR) in accordance with Generally Accepted Accounting Principles (GAAP). These reports include the following:

  • Accident.
  • Medical Aid.
  • Pension Reserve.
  • Supplemental Pension.
  • Second Injury.
  • Self-Insured Employer Overpayment Reimbursement.
  • Industrial Insurance Rainy Day Fund accounts combined.

Financial information reports

2017 CAFR report

2017 CAFR (GAAP Basis Financial Report) (3.5 MB PDF).

2017 SAP report

2017 SAP Financial Information (3 MB PDF).

2016 CAFR report

2016 CAFR (GAAP Basis Financial Report) (4.8 MB PDF).

2016 SAP report

2016 SAP Financial Information (3.4 MB PDF).

Past CAFR and SAP reports

Ten-year summary of the State of Washington Industrial Insurance Fund

If you have questions about the financial reports or need additional financial information, please email Sharon Elias, Chief Accounting Officer, at

State of Washington's Comprehensive Annual Financial Report (CAFR)

The state of Washington's CAFR follows Generally Accepted Accounting Principles (GAAP). The Workers' Compensation Program's financial information is included as a major business activity and can be found within the state of Washington's CAFR.

The schedules accompanying the statements break out the Basic Plan that includes only the Accident, Medical Aid and Pension Reserve accounts combined from the Supplemental Pension Plan.

The State's CAFR reports ( typically become available in January for the preceding year.

Additional information

Related State Fund Information explains how Washington State

  • provides higher benefits to workers with lower costs to employers,
  • compares to other workers' compensation insurers, and
  • ranks in an Oregon premium rate ranking study.

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