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Wednesday, December 8, 2010

Compromise and Release in Worker's Comp

Frank Fennerty
Board Member, Washington State Board of Industrial Insurance Appeals

Since our State has never allowed Compromise and Release in Worker's Comp. I am curious if their are any studies on the impact of C&R on Worker's Comp. This will be a issue of importance in our upcoming legislative session.

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Posted on December 8, 2010  |  Write the first comment
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Thursday, December 2, 2010

What does the Report of the Fiscal Commission's Co-Chairs Mean for Social Security?

Ben Veghte
Income Security Research Associate, National Academy of Social Insurance

Social Security changes recommended by the co-chairs of the National Commission on Fiscal Responsibility and Reform (NCFRR) on December 1, 2010  include: extending coverage (to uncovered state and local employees); three benefit reductions (affecting the benefit formula, cost of living adjustments, and retirement age); two benefit increases (a new special minimum and a 5 percent boost for longtime recipients); and a revenue increase (lifting the cap on taxable wages). In addition, the recommendation to lower personal income tax rates would reduce revenues to Social Security funds from the taxation of benefits.

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Posted on December 2, 2010  |  Write the first comment
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Thursday, December 2, 2010

What does the Report of the Fiscal Commission Co-Chairs Mean for Health Policy?

Lee Goldberg
Director of Health Policy, National Academy of Social Insurance

The Co-chairs of the President’s Commission presented a number of policy proposals aimed primarily at reducing the growth spending on Medicare and Medicaid. Given the size of the two programs, some of these changes may impact health care spending patterns in the private economy, but many will simply shift costs to other payers. Few, if any, proposals would address the underlying growing demand for services triggered by an aging population and a long term care system that relies on private savings.

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Posted on December 2, 2010  |  1 comment  |  Add your comment
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Friday, October 15, 2010

Why No Social Security COLA for 2011?

Ben Veghte
Income Security Research Associate, National Academy of Social Insurance

In January 2010, for the first time since 1975, when Social Security benefits were first indexed to the Consumer Price Index, Social Security benefits were not inflation-adjusted with a Cost of Living Adjustment (COLA), because the CPI-W had not increased from the third quarter of 2008 to that of 2009. Today, the Social Security Administration announced that 2011 will be the second consecutive year without a COLA.

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Posted on October 15, 2010  |  1 comment  |  Add your comment
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Thursday, August 5, 2010

Social Security and Budget Deficits: Don’t Lose Sight of the Facts

Janice Gregory
President, National Academy of Social Insurance (NASI)

With the release of the new Social Security Trustees annual report, we can expect to hear sharp debates on Social Security’s financial picture. We must ensure these discussions do not lose sight of some important facts. Despite concerns about Social Security’s long-term stability, the truth is that the program is in good financial shape and, with some sensible improvements, will continue to provide security to millions of American’s for generations to come

As in previous recessions, Social Security income and outgo today are performing as they were designed, as a counter-cyclical insurance program. That is, with more people out of work, contributions from wages decrease and more program participants retire sooner than they had planned. These facts are not a cause for alarm. Rather, they demonstrate the insurance function of Social Security and how critical it is to the economic security of American workers and their families.

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