The State Workers’ Insurance Fund (SWIF) was established by statute in 1915 to provide a quality workers' compensation program for Pennsylvania businesses that choose the fund to meet their required obligation under the Workers' Compensation Act. This helps to ensure a stable workers' compensation market in the Commonwealth because SWIF often provides coverage to entities that may otherwise struggle to obtain it in the private market.
 
SWIF’s current investment authority in equities is limited by law to 7.5 percent of the book value of the fund’s assets. This limits the fund’s ability to manage a portfolio that responsibly maximizes return on investment while ensuring the security of SWIF’s assets.  
 
Soon, I will introduce legislation that would allow SWIF to invest up to 20 percent of its assets in equities. This simple, common-sense change to the Workers’ Compensation Act would give SWIF the flexibility to adjust its investment portfolio to changing market conditions.
 
Please cosponsor this legislation to help stabilize Pennsylvania’s workers’ compensation system and ensure SWIF’s financial solvency for years to come.