The Idaho State Treasurer’s Office serves as custodian for securities required by the Idaho Industrial Commission from companies desiring authority to write workers’ compensation insurance in the State of Idaho. This deposit is held in trust for the exclusive benefit of holders of obligations of the insurer under the workers’ compensation laws of Idaho and remains with the Idaho State Treasurer or its custodial bank to answer any default of the insurer.
Please review the following Idaho Industrial Commission documents:
Security Types Accepted for Deposit
- U.S. Treasury Bills
- U.S. Treasury Bonds
- U.S. Treasury Notes (no TIPS)
- Cash or cash equivalent
- Idaho Municipal Bonds (allowed for Insurance Companies only)
Custody Agreement & Instructions
The Principal Financial Group acquired Wells Fargo’s Institutional Retirement & Trust business as of July 2019. The effective date for transition to Principal was February 22, 2022.
Forms (scroll down for appropriate bank)
Principal Bank dba Principal Custody Solutions
- Idaho State Treasurer's Office - Angela Bonaminio - (208) 332-2998
- US Bank - Mark Conte - (215) 761-9432
- Principal Custody Solutions - Sherri Bone (254) 262-3487
- Zions Bank - Twyla Lehto - (208) 501-7493