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§ 2707. Assessments and transfers

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 77 P.S. Workers’ CompensationEffective: October 24, 2018

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 77 P.S. Workers' Compensation (Refs & Annos)
Chapter 12. Uninsured Employers Guaranty Fund (Refs & Annos)
Effective: October 24, 2018
77 P.S. § 2707
§ 2707. Assessments and transfers
Currentness
(a)(1) The department shall calculate the amount necessary to maintain the fund and shall assess insurers and self-insured employers as is necessary to provide an amount sufficient to pay outstanding and anticipated claims in the following year in a timely manner and to meet the costs of the department to administer the fund. The fund shall be maintained in the same manner as the Workmen's Compensation Administration Fund under section 4461 and the regulations thereunder.
(2) In no event shall any annual assessment exceed 0.25% of the total compensation paid by all insurers or self-insured employers during the previous calendar year.
(3) Each fiscal year, the department shall determine the expenses of the fund for the prior fiscal year. If the total amount assessed for the prior fiscal year exceeds 130% of the expenses for that prior fiscal year, the current fiscal year assessment shall be reduced by an amount equal to that excess amount.
(b) For the purposes of further maintaining the fund, the sum of $4,000,000 is hereby transferred to the fund from the Administration Fund established under section 446.

Credits

1915, June 2, P.L. 736, No. 338, art. XVI, § 1607, added 2006, Nov. 9, P.L. 1362, No. 147, § 7, effective in 60 days [Jan. 8, 2007]. Amended 2011, June 30, P.L. 86, No. 20, § 3, imd. effective; 2018, Oct. 24, P.L. 804, No. 132, § 2.1, imd. effective.

Footnotes

1
77 P.S. § 1000.2.
77 P.S. § 2707, PA ST 77 P.S. § 2707
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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