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Public School Retirees' Health Insurance Fund - 24 Pa. Cons. Stat. § 8902

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     § 8902.  Public School Retirees' Health Insurance Fund.
        (a)  Establishment of fund.--The Public School Retirees'
     Health Insurance Fund is established in the State Treasury. The
     moneys of the fund are appropriated on a continuing basis and
     shall be used exclusively for the purposes set forth in this
     part. All of the assets of the fund shall be maintained and
     accounted for, separate from all other funds and moneys of the
     Commonwealth and the Public School Employees' Retirement Fund
     identified in section 8522 (relating to Public School Employees'
     Retirement Fund).
        (b)  Reserve account.--
            (1)  A restricted reserve account is established within
        the fund for the purpose of establishing and maintaining a
        reserve sufficient to pay the expected claims experience of
        the program in the event the board elects to self-fund all or
        a portion of the program for any plan years. For the plan
        year 2002 and each plan year thereafter, the board shall
        annually establish through an actuary retained by the board
        the amount necessary, if any, to maintain this reserve in the
        event the board elects to self-fund all or a portion of the
        program for any plan years. Any moneys needed to maintain the
        reserve established by this subsection shall be collected
        through the adjustment of premium rates or through other
        available sources.
            (2)  The moneys in the reserve account may be invested by
        the board separate from other moneys of the fund. All
        earnings derived from investment of the assets of the reserve
        account shall be credited to the reserve account.
        (c)  Transfers.--The board may transfer moneys among the
     various accounts of the fund, including the reserve account
     established by subsection (b), as may be necessary to satisfy
     the provisions of this part. Transfers from the reserve account
     may be made only for the payment of claims or expected claims as
     determined by the actuary retained by the board.
        (d)  Administration.--The assets of the fund shall be
     preserved, invested and expended solely pursuant to and for the
     purposes set forth in this part.
        (e)  Composition.--The fund shall consist of:
            (1)  All payments made by eligible persons or received
        from the health insurance account established by section 8526
        (relating to health insurance account) and all interest,
        earnings and additions thereto.
            (2)  Any other money, public or private, appropriated or
        made available to the board for the fund or the reserve
        account from any source and all interest, earnings and
        additions thereto.

        Cross References.  Section 8902 is referred to in section
     8702 of this title.

Last modified: November 27, 2007