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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted:	April 1, 2015 04:41 PM
From:	Senator Christine M. Tartaglione
To:	All Senate members
Subject:	Co-Sponsorship of Legislation: State Workers’ Insurance Board

In the near future, I plan to introduce legislation which would amend the fiscal code to permanently establish the investment authority of the State Workers’ Insurance Board. Since 1915, the State Workers’ Insurance Fund (SWIF) has provided workers’ compensation insurance for the employers and workers of Pennsylvania, including those who have been unable to obtain coverage through private insurance firms. This fund is overseen by the State Workers’ Insurance Board, which consists of the Secretary of Labor & Industry, the Insurance Commissioner and the State Treasurer. As board members, their duties include investing, holding, purchasing, selling, assigning, transferring and disposing of securities, including common stock. These powers are scheduled to expire on June 30, 2015. After consulting with the Department of Labor & Industry, it is apparent SWIF and, therefore, the State Workers’ Insurance Board will remain necessary for Pennsylvanians into the distant future. As such, I am introducing legislation that would simply allow the board to maintain its authority to oversee the fund by removing the expiration date from this section of the fiscal code. At this time, I hope you will join me in sponsoring this legislation which is critical to the continued operations of the State Workers’ Insurance Board and SWIF.

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