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October 2022 dividend FAQ


Contact Christy Witzke, vice president of marketing, sales, and communications.

For appointed agents and group association partners.

Today, September 14, 2022, SAIF declared a $75 million dividend to be distributed in October 2022 to policyholders based on their premium for policies whose term ended in 2021.

SAIF is able to pay dividends because of solid investment returns and continued success in managing workplace safety and health and controlling losses. 50,960 policyholders will receive the dividend. 

Dividend calculation*

Standard premium range

Dividend as a percentage of standard premium

$0 to $5,000.00


$5,000.01 to $15,000.00


$15,000.01 to $50,000.00


Over $50,000.00


* Dividend percentages vary by standard premium range to account for the impact of premium volume discount on the final premium paid.

Please note: The minimum dividend is $5; no dividend will be awarded under this amount. In addition, premiums paid for other states coverage are not eligible for a dividend.

Distribution dates and documents

September 20: Dividend information will be available to agents and associations through Business Online.

September 30: Dividend information will be available to employers through Business Online. Final dividend offsets will be viewable on the Dividend application. The Policy Dividend screen states the amount of the dividend, if any, that will be applied to the account balance and the amount of the net check. See below for detailed instructions on accessing dividend information.

October 10-14: Dividend communications and checks are expected to be mailed to policyholders during this week. All eligible policyholders will receive a letter from the CEO and a check, if one is issued.

Policyholders who do not have any current or past due balances, as of end of the day September 26, will receive a check for their full dividend amount.

As with last year, if the policyholder has a current or past due balance on their account, SAIF will automatically apply the dividend toward that balance. If the dividend amount is greater than the current and/or past due balance, a check will be generated for the remainder of the dividend. This applies to both active and cancelled policies.

Customers not eligible for dividends (Assigned Risk Plan participants and customers in default) will not receive dividend communications. 

Dividend information and reports available on Business Online

The dividend information system will be available to you on September 20 through Business Online. On September 30, the dividend information system will become available to policyholders through Business Online.

To start, go to Dividends in the left-hand menu, then Search Dividend. This will allow you easy access to your lists of policyholders. The lists can be viewed online, printed, or downloaded to Excel. The Policy Dividend screen shows how each policy’s dividend was calculated and any adjustments to the check amount because of a balance owed to SAIF. Check amounts may be adjusted until the day the dividend checks are printed.

Please read the following FAQ document carefully regarding the use of online dividend information and communication with potential dividend recipients. A more limited list of questions and answers will be posted for policyholders on saif.com.

October 2022 dividend questions and answers

1. Which policyholders are eligible for a dividend?

Policyholders are eligible for a dividend if they were insured with SAIF with policy expiration date(s) from January 1, 2021, 12:02 a.m. through January 1, 2022, 12:01 a.m., with the exception of those noted in question 2.

2. Which policyholders are not eligible for a dividend?

Policyholders are not eligible for a dividend if they:

  • Were in default status for nonpayment of premium at 12:01 a.m. on declaration day, September 14, 2022 (see ORS 656.560 and 656.526(3)); or
  • Do not have a policy end date within the eligibility period (see answer to question 1 above)

SAIF customers who are in the Assigned Risk Plan are not insured by SAIF but by the Oregon Workers’ Compensation Plan authorized by the Department of Consumer and Business Services (DCBS) and administered by the National Council on Compensation Insurance (NCCI). SAIF provides coverage and claims handling services for assigned risk customers according to the terms of a contract with NCCI. However, because assigned risk customers are not insured by SAIF and are specifically issued a policy that excludes a dividend participation provision, they are not eligible for dividends. 

Premiums paid for other states coverage (OSC) are not eligible for a dividend. 

Finally, under the terms of the declaration issued by the board of directors, SAIF is not eligible for a dividend. 

3. What was the time period used by SAIF to determine dividend eligibility?

SAIF calculated dividends on full and partial policy periods with expiration dates from January 1, 2021, 12:02 a.m. through January 1, 2022, 12:01 a.m. If an employer had more than one eligible policy period with the same policy number, both are dividend eligible. Premium from both periods is accumulated and one dividend is calculated.

Under Oregon law, dividends can only be declared on policy periods that have expired (OAR 836-080-0120(2)).

4. How are dividends calculated?

Dividends are calculated as a percentage of Oregon standard premium recorded for eligible policy periods on the valuation date of September 14, 2022. The dividend percentage is applied using the table contained in the dividend declaration.

Previously, SAIF has awarded a safety performance dividend to policyholders based on loss history. SAIF no longer offers this dividend.

Please note: The minimum dividend is $5; no dividend will be awarded under this amount.

5. Why do dividend percentages differ for policyholders of different premium size?

Dividends are calculated as a percentage of standard premium. However, a customer's actual paid premium is subject to a discount based on premium size. The dividend percentages for different premium bands have the effect of backing out the premium discount and putting all policyholders on essentially the same footing.

6. Why did SAIF select $75 million as the total dividend amount?

The board of directors, upon recommendation of SAIF's management, determined that a dividend of $75 million can reasonably be paid while still maintaining a capital level that ensures SAIF’s long-term financial stability. 

7. How and when will dividends be distributed?

Most policyholders eligible for a dividend will receive a check in the mail. Checks are expected to be mailed during the week of October 10. In some instances, the entire dividend or a portion thereof may be applied to a premium balance or future premium payments. Policyholders should call SAIF’s billing department at 800.285.8525 if they have any questions about money that was applied to a balance due. Policyholders may also request to have their dividends applied to future premium payments.

8. Which policies will have their dividend applied to their account?

Policyholders who have a current and/or past due balance on their account, as of end of the day September 26, will have the dividend applied to the account balance. In addition, if a policyholder completes a payroll report due in October prior to September 26 and doesn’t pay the amount due on the payroll report by September 26, it is considered a current balance, and the dividend will be applied to the policyholder’s account balance. If the dividend amount is greater than the current and/or past due balance, a check will be generated for the remainder of the dividend. Cancelled policies with a balance that was not in default as of 12:01 a.m., September 14, will have the dividend applied to the account balance on September 29.

Some policies may have the full amount offset due to the size of the balance; others will have just a portion of the dividend applied and the difference refunded. Letters will be sent to all policyholders; the check will be included in that letter for those receiving a check. If any portion of the dividend was applied, that, too, will be explained in the letter.

Policyholders with a stay of collection due to a disputed premium audit balance will be contacted by the collection staff to provide the option to apply the dividend to stayed balances to reduce or eliminate the accrual of interest pending the final order. The stay of collection prohibits SAIF from attempting to collect the disputed balance, which includes applying the dividend without the policyholder’s permission. If the policyholder does not agree to apply the dividend to the stayed balance, they will be mailed their dividend check.

Active policies may also have their dividend credited to their account by policyholder request.

9. Can employers be told the specific amount of their individual dividend prior to when the checks are mailed?

Yes. Agents and groups will have access to this information on September 20. Dividend information will be available to policyholders beginning September 30 in Search Dividend and Policy Dividend in Business Online. These screens will identify accounts that are eligible for a dividend and the amount of the dividend award. They also will show accounts that are not eligible for a dividend and explain why.

Until September 30, the dividend shown on the Policy Dividend screen is subject to adjustment for any balance on any active or cancelled policy that has not been defaulted, or by policyholder request. Policyholders should be told that “we anticipate the amount of your dividend check to be [give amount].”

10. What if a policyholder asks for the dividend percentage?

The dividend allocation schedule with average dividend percentages by premium range can be disclosed to the policyholder. The eligible premium, policy period(s) included in the dividend, and the calculation will be visible online at Policy Dividend.

11. Is there a limit to the amount of dividend a customer can receive for a particular policy year?

Yes. The dividend cannot exceed 95% of the premium as of the dividend declaration date. For retrospectively rated policies, the dividend cannot exceed 95% of the estimated retrospectively rated premium based upon paid losses as of the dividend declaration date.

12. Will wrap-up subcontractors and leasing clients receive a dividend?

No. Wrap-up subcontractors and leasing clients will not receive dividends. In both cases, premiums were paid to SAIF by the wrap-up owner/contractor and the leasing company as the policyholder; therefore, they will receive the dividend check. Note, however, that a wrap-up subcontractor may have a stand-alone policy with SAIF that is outside the wrap-up project and that is dividend eligible.

13. Will subaccount policies receive a dividend?

No. All subaccount policies are the same legal entity. SAIF sets up subaccount policies to accommodate a policyholder request to keep separate payroll and premium by location. In this case, one dividend check will be issued to the principal policy based on the cumulative standard premium of all combined policies. 

14. Why did SAIF pay a dividend instead of lowering rates?

Rates must be sufficient to pay the expected losses and expenses for the prospective period during which the rates are in effect. In order to lower prices, SAIF must be able to reasonably predict the sustainability of either lower expected losses or expenses, or sustained increases to surplus through investment earnings. At this time, SAIF’s actuaries cannot make such a prediction.

Our customers have told us that they value stable, long-term pricing. With so many factors influencing the size of SAIF’s surplus, it would not be prudent to deliver a price reduction with no guarantee that it could be sustained.

15. Will a policyholder get a dividend even if it has switched to another carrier or was insured by SAIF for only a portion of the year?

Yes. If a policyholder meets the dividend eligibility criteria, it will receive a dividend even if it is no longer a SAIF policyholder.

16. What happens if an employer paid an amount immediately before the dividend was applied to the account?

The employer will receive an invoice showing a credit, which may be used to pay future premiums or other charges. If the employer requests a refund, SAIF will issue payment.

17. What happens if a policyholder decides not to pay its current bill on time because it intends to use the dividend check to pay its bill?

Interest will accrue on any overdue amounts as specified in ORS 656.560, which provides that interest at the rate of 1% per month or fraction thereof shall be added to the amount due, commencing with the first day of the month following the date when payment became due.

Employer payroll reports are due on or before the 15th day of the month following the reporting period. Payments that are required with the reports are also due on the 15th day of the month. Interest shall be assessed if the payment is not received prior to the first of the month following the stated due date.

Therefore, any premium payment or payroll report with a premium payment due in September 2022 will be charged 1% interest if the payment is not received before October 1, 2022. Policyholders may contact their billing representative with any questions or concerns regarding their billing, or request to have their dividend be applied to their premium payment. 

Payments and payroll reports may be filed online (through Business Online) at saif.com.

18. What happens to the dividend if a policyholder is in bankruptcy?

Please refer all calls involving policyholders in bankruptcy to Trinia Eustis, collection manager, 503.373.8786 (ext. 8786).

19. Is the dividend considered income for tax purposes?

SAIF cannot provide advice about how a policyholder should treat a dividend for tax purposes. Employers should consult their tax professional.

20. Who is authorized to receive information on a policyholder’s dividend?

Dividend information may be given to anyone in the company who holds a position of authority, such as proprietor, partner, owner, or controller. The employer’s insurance agent-of-record as indicated by SAIF’s computer records also is authorized to receive dividend information.

21. What is the procedure if a request to change the payee name is received before the dividend checks are printed?

External customers should contact the SAIF billing department at 800.285.8525.

22. What is the procedure for a dividend check that has been lost or needs to be reissued?

Please call the SAIF cashier’s office at 503.373.8780 or email cashiers at corpcashiers@saif.com. Requests to reissue a check under a different name will require approval by SAIF’s collection department. The requestor may be required to complete an affidavit and indemnity agreement.