Lawmakers have shook on a workers compensation solution
***UPDATE: May 24, 2011 – 10:00 AM -According the news reports, lawmakers rushed the new workers compensation legislation through the House yesterday. Lawmakers are still in Olympia trying to pass a complete budget, so right now there is little talk on the new workers compensation plan***
Workers compensation – no builder’s favorite topic. But, I suppose that you will all be interested to learn that state leaders have come to a tentative pact to overhaul the system that most Washington builders find loathsome.
According to the Seattle Times, lawmakers got together on Sunday, May 22, 2011, and found consensus on legislation that should provide for smoother claims procedures and please businesses who were hoping to settle claims earlier, rather than later.
At last glance, the Senate and House were at odds over a single major issue – whether claimants could accept a lump sum payout versus a lifetime pension. It appears that business leaders might finally have been appeased by the proposition of “structured settlements,” whereby workers accept their payout over a term.
The overhaul proposal was first offered up by Gov. Chris Gregoire. The Governors main concern has always been the rising costs of premiums. In order to curb those costs, the suggestion has been to end lifetime pensions. Business leaders have been behind this initiative.
More will be announced later today, so I will add an update to this post at that time.
