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rating formula
#1
Hi all,
Quick question. When figuring settlement from rate% . Say max monthly income 5250.00 ttd is 2/3. So if % is .06 for every 1% do you multiply .06 times 5250.00 or
Times 2/3 of 5250.00. Then of course by
Years till 70. Thank you everybody.
 
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#2
if the % is .06 for every 1% then you multiply the impairment rating by .06. then by the weekly rate.
I don't know anything about using "70"; that must be unique to your state.

there are two components to calculating the permanent disability amount from an impairment rating:
the weekly rate and the number of weeks.
many states have a different maximum for PD then for TD so don't assume they will be the same.
you need your state's formula for converting the impairment rating into weeks.
once you get both numbers you multiply to calculate total amount of PD.
each state has it's own formulas and they can be quite complex.
without knowing the state laws PD cannot be calculated.

that's why this site always asks that you post your state when requesting information
http://www.workerscompensation.com/forum...?tid=10146


Reminder :
........Each state has their own comp system; POST YOUR STATE to get accurate information. Use the search feature to find information from similar questions.
THANKS FOR POSTING.
 
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