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No Change in California Employees’ Compensation Weekly TD Charges for 2024

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The U.S. Division of Labor has issued new information exhibiting California’s State Common Weekly Wage edged down 0.48 p.c from $1,650 to $1,642 within the 12 months ending March 31, 2023.

The California Employees’ Compensation Institute notes there shall be no change in California’s minimal and most short-term complete incapacity and everlasting complete incapacity charges for 2024 work accidents, or in different advantages which might be tied to will increase within the SAWW.

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Beneath California regulation, minimal and most TTD and PTD charges are topic to annual adjustments, efficient January 1 of every 12 months, primarily based on the share enhance within the SAWW. After rising steadily for greater than a decade, together with a 5.159 p.c enhance final January on high of a report 13.521 p.c enhance in 2022, the utmost TTD/PTD charge for 2023 job accidents is now $1,619.15 per week, and the minimal is $242.86 per week. However, with the decline within the SAWW final 12 months, these charges won’t must be adjusted for claims with harm dates on or after January 1, 2024.

The 2022-2023 decline within the SAWW additionally signifies that annual value of residing changes to life pension and PTD funds on present claims with harm dates on or after January 1, 2003 won’t apply subsequent January, and the utmost charge for loss of life profit installment funds, that are paid in the identical method and quantity as TTD, will stay unchanged.

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California
Workers’ Compensation
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