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HB 2499

An Act amending the act of June 2, 1915 (P.L.736, No.338), known as the Workers' Compensation Act, in State Workers' Insurance Fund, further providing for investments by board.

2025-2026 Regular Session Introduced by Manny Guzman and 8 co-sponsors

HB 2499 updates how the State Workers’ Insurance Fund board may invest SWIF assets, clarifying investment authority and oversight.

Third consideration and final passage
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WeVote Research Nonpartisan
Bill Summary · HB 2499

Bill overview

  • Bill: HB 2499
  • Session: 2025-2026
  • Jurisdiction: Pennsylvania

  • Title: An Act amending the act of June 2, 1915 (P.L.736, No.338), known as the Workers' Compensation Act, in State Workers' Insurance Fund, further providing for investments by board.

  • Sponsor/Co-sponsors:

    • Primary (not listed) with multiple co-sponsors: John Inglis, Ben Waxman, Ed Neilson, Dan Williams, Mary Isaacson, Ben Sanchez, Manny Guzman, Bridget Malloy Kosierowski.

  • Action history (recent):

    • 2026-06-09: Reported as amended; First consideration; Re-committed to Rules
    • 2026-05-08: Referred to Labor & Industry

Purpose and intent

HB 2499 proposes amendments to the Pennsylvania Workers’ Compensation Act specifically related to the State Workers’ Insurance Fund (SWIF). The bill aims to modify how the SWIF board conducts investments. The core intent appears to be updating or clarifying statutory authority regarding investment practices to govern the financial management of SWIF assets, potentially aligning investments with prudent fund management standards and state financial oversight.

Key provisions and changes (as inferred from title and context)

  • Investment authority of the SWIF board: The bill provides new or revised authorization for how the SWIF board may invest funds, including criteria, limits, or procedures that govern investment decisions. This could cover permissible investments, diversification requirements, risk tolerances, and fiduciary duties.

  • Board governance/oversight adjustments: By amending “investments by board,” the bill may alter the board’s structure, reporting requirements, or accountability mechanisms related to investment performance, possibly including annual reporting to the General Assembly or a state department.

  • Alignment with existing law: The amendments would fit within the broader framework of the Workers’ Compensation Act, ensuring consistency with current provisions governing SWIF operations, funding, and benefits.

Note: The summary focuses on typical content of “investments by board” amendments in state workers’ compensation acts. The precise text would specify the exact changes (e.g., types of authorized investments, collateral requirements, conflicts of interest, or supervision). The bill’s full language would detail these provisions.

Who or what would be affected

  • State Workers’ Insurance Fund (SWIF): Primary entity affected, as the bill changes how the SWIF board may invest its funds.
  • SWIF board and staff: Responsible for implementing and complying with any new investment authorities, reporting duties, and fiduciary standards.
  • Policyholders and taxpayers: Indirectly affected through potential impacts on SWIF financial health, solvency, and ability to fund workers’ compensation programs or related services.
  • Legislative and oversight bodies: May have enhanced or altered reporting and oversight requirements resulting from the amended provisions.

Procedural and timeline aspects

  • Committee action: Referred to the Labor & Industry Committee (2026-05-08), indicating initial consideration focused on labor/industry impacts.
  • Floor consideration: Reported as amended and first considered by the full chamber (2026-06-09), with a re-commitment to Rules, implying procedural steps toward potential amendments and final passage.
  • Status: As of the latest action, HB 2499 is progressing through the standard legislative process with amendments possible and eventual votes anticipated.

Potential impacts and considerations

  • Financial impact on SWIF: Depending on the new investment parameters, the fund’s return profile, liquidity, and long-term solvency could be affected.
  • Fiduciary standards: Strengthened or clarified duties for board members managing SWIF assets, with potential implications for risk management and performance reporting.
  • Public accountability: If the bill increases reporting or oversight, it could enhance transparency regarding SWIF investment performance and risk exposure.
  • Implementation timeline: The exact effective date and transitional provisions (if any) would be defined in the bill’s text; stakeholders will want to note any phased or immediate applicability.

If you’d like, I can locate the exact statutory language of HB 2499 and provide line-by-line notes on what each section changes and any fiscal impact statements associated with the bill.

Compiled from official sources — confirm details with the bill’s official record.

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