Assemblywoman Dawn Fantasia filed legislation to institute additional workers' compensation supplemental benefits on June 13, 2024, and Assemblyman Inganamort co-sponsored it.
Showing posts with label Cola. Show all posts
Showing posts with label Cola. Show all posts
Monday, June 17, 2024
Thursday, October 14, 2021
Social Security Announces 5.9 Percent Benefit Increase for 2022
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022, the Social Security Administration announced.
Thursday, June 20, 2019
New COLA Increase for Certain Dependents
NJ Governor Phil Murphy has now signed legislation enacting a cost of living adjustment [COLA] increase for workers' compensation benefits. The law is limited to dependents of public safety employee who have been killed in a workplace accident.
The law provides, from January 1, 2020 forward, an annual COLA in the weekly WC benefit rate for the surviving dependents of any public safety worker who died from a workplace injury after December 31, 1979. A public safety worker is an individual who is employed by or a member of a paid, partially-paid, or volunteer fire or police unit, including a first aid or rescue squad.
The annual COLA will equal the percentage increase in the annual Statewide average weekly wages earned by all employees covered by the “unemployment compensation law.” For supplemental WC benefits paid for workplace injuries that occurred after December 31, 1979 but before January 1, 2020, the calculation will be performed relative to the Statewide average weekly wages in effect in the year of the injury. However, the calculation applies only to benefits paid beginning on January 1, 2020 without any retroactive benefit payment.
COLA benefits are to be reduced by the original amount of any Social Security benefits a surviving dependent receives (but not the amount of any Social Security disability benefits and any subsequent cost-of-living increases in Social Security benefits) or Black Lung benefits.
In addition, COLA benefits will not be paid to any individual who elects not to receive Social Security benefits for which the individual is eligible, or in any case in which the COLA would be less than $5 per week.
COLA benefits are to be paid from the SIF starting on January 1, 2020. The Department of Labor and Workforce Development calculates the SIF assessment for each calendar year so that projected resources in the fund equal 125 percent of expected benefit payments in the upcoming year plus 100 percent of the projected cost of administration. The surcharge is levied on all employers that are WC and employer’s liability insurance policyholders or that are self-insured, except for reinsurance or retrocessional transactions, and the State or any local units thereof which acts as a self-insured employer.
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Jon L. Gelman of Wayne NJ is the author of NJ Workers’ Compensation Law (West-Thomson-Reuters) and co-author of the national treatise, Modern Workers’ Compensation Law (West-Thomson-Reuters). For over 4 decades the Law Offices of Jon L Gelman 1.973.696.7900jon@gelmans.com has been representing injured workers and their families who have suffered occupational accidents and illnesses.
Wednesday, October 31, 2018
Wednesday, September 5, 2018
Totally Injured Workers Maybe Getting an Increase in Benefits
The proposed Trump Administration 2019 Budget (p. 115) may allow NJ workers’ compensation beneficiaries to receive an increase in benefits. By eliminating the Social Security “reverse offset,” totally and permanently injured NJ workers will receive a triennial annual COLA increase.
“The Budget includes a re-proposal to eliminate reverse offsets in fifteen states where Workers' Compensation (WC) benefits and temporary disability insurance benefits (TDI) are offset instead of DI benefits."
Thursday, June 9, 2016
NJ Supreme Court Allows COLA Pension Freeze
LaVECCHIA, J., writing for a majority of the Court. In this appeal, the Court considers whether the 2011 suspension of State pension cost-of-living adjustments (COLAs), L. 2011, c. 78, contravened a term of the contract right granted under the earlier enacted “non-forfeitable right” statute, L. 1997, c. 113 (presently codified as N.J.S.A. 43:3C-9.5).
Thursday, May 7, 2015
NJ State Bar Association Opposes Workers' Compensation COLA Bill
"The New Jersey State Bar Association respectfully has concerns with S-929 (Sweeney) which concerns
certain workers' compensation supplemental benefits.
The New Jersey State Bar Association opposes this legislation in order to preserve the “Reverse Offset”
provision in New Jersey, visa vie Social Security, which provides for a reduction of the workers'
compensation benefit of a worker also receiving disability insurance. Enacting this legislation has the
potential of harming the economic integrity of New Jersey’s current cost effective system by allowing for
a double recovery of disability benefits and workers’ compensation benefits, which will in turn increase
the cost of doing business in New Jersey. A potential alternative that would limit these adverse
consequences would be to limit the application of the bill to survivor/death benefits.
For the reasons set for above, the New Jersey State Bar Association respectfully opposes this bill."
Tuesday, January 7, 2014
NJ Senate to Vote on S613 - Workers Compensation Cost of Living Benefit Increase
On Thursday, January 9, 2014, the NJ Senate is scheduled to vote on S613, which is proposed legislation to increase workers' compensation benefits by implementing a cost of living allowance for some beneficiaries.
On December 19, 2013 the following amendments were adopted by the NJ Senate:
These Senate amendments provide:
1. That the periodic cost of living supplement that the bill
provides to an individual for total permanent disability or survivor’s
benefits under workers’ compensation will be reduced by the original
amount of that individual’s periodic Social Security survivor’s or
retirement benefits, but not reduced by subsequent cost of living
increases in those Social Security benefits; and
2. That, in the case of an individual who initially received Social
Security disability benefits and later receives Social Security
retirement benefits, or who dies and has dependents who receive
Social Security survivors’ benefits, the workers’ compensation
supplement will then be reduced by the amount of the Social Security
retirement or survivor benefits, exclusive of any cost of living increase
in those Social Security retirement or survivor benefits
S613:
1/9/2014 1:00:00 PM Senate
1000 AM Committees at the Call of the Senate President
200 PM Voting Session
Senate Chambers
http://www.njleg.state.nj.us/bills/BillView.asp?BillNumber=S613
On December 19, 2013 the following amendments were adopted by the NJ Senate:
These Senate amendments provide:
1. That the periodic cost of living supplement that the bill
provides to an individual for total permanent disability or survivor’s
benefits under workers’ compensation will be reduced by the original
amount of that individual’s periodic Social Security survivor’s or
retirement benefits, but not reduced by subsequent cost of living
increases in those Social Security benefits; and
2. That, in the case of an individual who initially received Social
Security disability benefits and later receives Social Security
retirement benefits, or who dies and has dependents who receive
Social Security survivors’ benefits, the workers’ compensation
supplement will then be reduced by the amount of the Social Security
retirement or survivor benefits, exclusive of any cost of living increase
in those Social Security retirement or survivor benefits
S613:
1/9/2014 1:00:00 PM Senate
1000 AM Committees at the Call of the Senate President
200 PM Voting Session
Senate Chambers
http://www.njleg.state.nj.us/bills/BillView.asp?BillNumber=S613
Friday, April 5, 2013
Obama Administration Proposed Social Budget Cut Places More Stress on Workers' Compensation
It has been reported that the Obama Administration will soon propose budgetary cuts in social welfare programs. Those cuts may produce further economic stress on the nation's financially beleaguered workers' compensation system.
A reduction or rationing of medical care through Medicare will remove the safety net available to
injured workers who have been denied workers' compensation benefits initially and are delayed in the administrative/adjudicatory process.
In those states when there is a "reverse offset." the workers' compensation insurance carrier takes an offset when combined benefits exceed the ACE (Average Current Earning) before the onset of lost time, reduction of COLA (Cost of Livening Assessment) the carriers will be required to pay more dollars.
"President Obama next week will take the political risk of formally proposing cuts to Social Security and Medicare in his annual budget in an effort to demonstrate his willingness to compromise with Republicans and revive prospects for a long-term deficit-reduction deal, administration officials say."
Click here to read the complete article: "Obama Budget Reviving Offer of Compromise With Cuts" NYT
A reduction or rationing of medical care through Medicare will remove the safety net available to
In those states when there is a "reverse offset." the workers' compensation insurance carrier takes an offset when combined benefits exceed the ACE (Average Current Earning) before the onset of lost time, reduction of COLA (Cost of Livening Assessment) the carriers will be required to pay more dollars.
"President Obama next week will take the political risk of formally proposing cuts to Social Security and Medicare in his annual budget in an effort to demonstrate his willingness to compromise with Republicans and revive prospects for a long-term deficit-reduction deal, administration officials say."
Click here to read the complete article: "Obama Budget Reviving Offer of Compromise With Cuts" NYT
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