77 P.S. § 2707 Assessments and Transfers

• Library: Pennsylvania Statutes
• Edition: 2023
• Currency: Current through P.A. Acts 2023-27
• Year: 2023
• Citation: 77 P.S. § 2707

(a) [For the purpose of establishing and maintaining the fund, the sum of $1,000,000 is hereby transferred from the Administration Fund established under section 446 to the fund for operation of the fund for the period commencing on the effective date of this section through June 30, 2007.]

(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 446 and the regulations thereunder.

(2) In no event shall any annual assessment exceed [0.1%] 0.25% of the total compensation paid by all insurers or self-insured employers during the previous calendar year.