Carriers And Self-Insureds Overlook Costly Time Bomb At Their Peril
OAKLAND—Payors may be wholly unprepared for “sticker shock” when cost-of-living adjustment (COLA) payments attached to workers’ comp life pensions kick in, regulators warn. It’s been a ticking time bomb since 2003 when AB 749 took effect, linking life pensions and total permanent disability to the state average weekly wage (SAWW). Blair Megowan of the Division …
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