Pennsylvania Compensation Rating Bureau

“The pcrb's members are comprised of all property/casualty insurers licensed to write workers' compensation business in the commonwealth of pennsylvania.”

“Governing board members are elected by a vote of all members present and voting at an annual meeting of the pcrb attended by sufficient members to attain a quorum under the terms of the pcrb's by-laws.”

“Approval from members for the following decisions/actions require affirmative votes of the membership in order to gain approval 1)amendment, alteration or repeal of any and all provisions of the pcrb's by-laws (such changes require two-thirds vote of the members present and voting with the benefit of a quorum), 2)amendment, alteration, repeal or re-enactment of the bureau's articles of incorporation or by-laws with respect to the bureau's qualification and operation as a licensed rating organization in the commonwealth of pennsylvania, or the division of the bureau, or the voluntary dissolution and winding up of the bureau, or the sale of a substantial portion of the bureau's assets. (the preceding five types of changes require the affirmative vote of (a) two-thirds of the entire governing board at a duly convened meeting of the governing board called for such purpose, and (b) two-thirds of all members of the bureau at a duly convened annual meeting of the bureau, or at a duly convened special meeting called for such purpose.”

“Prior to filing the form 990, the return was emailed to all members of the pcrb governing board. All governing board members were asked to review the form and provide comments or questions for staff consideration. As of the date that pcrb filed the form 990, no adverse comments or questions requiring any changes to the form 990 as distributed to the governing board had been received. Should such adverse comments or questions be received subsequent to the filing date of the form 990, pcrb will appropriately amend the form 990 filing.”

“The total remuneration (salary, other cash and benefits) given to the pcrb's president was reviewed by the compensation subcommittee of the pcrb governing board. The presidents' compensation, including incentives and benefits, are established annually by action of the governing board.”

“The total remuneration (salary, other cash and benefits) given to the pcrb's officers and key employees was reviewed by the compensation subcommittee of the pcrb governing board. The compensation of officers and key employees, including incentives and benefits, are established annually by action of the governing board.”

“Governing documents and financial statements were posted to the www.pcrb.com website. The conflict of interest policy was not made available to the public during the year.”

“Minimum pension liability 6,532,719”