H1283B1804A01376 SFR:EJH 05/14/19 #90 A01376
AMENDMENTS TO HOUSE BILL NO. 1283
Sponsor: REPRESENTATIVE HARKINS
Printer's No. 1804
Amend Bill, page 2, line 10, by inserting after "benefits"
or deferred wages
Amend Bill, page 2, line 22, by inserting after "contract."
In determining the financial strength of an insurer, the
commissioner may consider whether a professional or
transactional fee associated with a contract is materially
detrimental financially to the employees or retirees whose
retirement benefits are being funded by the contract. The
commissioner is authorized to limit or deny a professional or
transactional fee associated with a contract prior to making the
determination as required by subsection (b).
Amend Bill, page 2, by inserting between lines 28 and 29
(c) Deemed wages and deemed employer.--Prospective periodic
payments of annuity benefits by an insurer pursuant to a
contract shall be deemed wages, and the insurer shall be deemed
the employer. For purposes of this subsection, the terms
"employer" and "wages" shall be as defined under section 2.1 of
the act of July 14, 1961 (P.L.637, No.329), known as the Wage
Payment and Collection Law.
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See A01376 in
the context
of HB1283