Is your PPD Settlement Calculated Correctly?
One common question that injured workers have is the following: what, if any, money will I receive based on my case? This question, of course, has the same answer as other areas of law: it depends. Not all injured workers receive settlements. When using the word “settlement” in this context, it does not mean that the employer or insurer is paying you money to drop the case such as in other areas of law. The settlement is pursuant to Nevada law that is based on your age and wage at the time of the injury, and what percentage of impairment per body part the injured worker sustains. Only injured workers that have a permanent impairment will be eligible for compensation. This is called a permanent partial disability (PPD) impairment rating. NRS 616C.490.
As stated, not all injured workers will sustain permanent injuries. If they do not, then they will not receive a PPD rating. Those that do, however, are entitled to a lump sum payment that must be equal to the present value of the compensation awarded. NRS 616C.495(5). Furthermore, the Division of Industrial Relations (DIR) is mandated by the same statute to review the present value actuary tables annually. Id.
Unfortunately, DIR has not updated the tables annually making the present-day values of the PPDs inaccurate. There was a recent court order from the District Court ordering DIR to update the actuary tables. What this means for injured workers is that the lump sum settlement will eventually be recalculated upwards to reflect present day value. See NRS 616C.495(5).
Contact Our Las Vegas Personal Injury Lawyers Today
Are you an injured worker? If so, you should seek an experienced and dedicated Las Vegas personal injury attorney regarding this recent court decision. At Shook & Stone, not only will we be able to provide you with unparalleled guidance on this process, but also all other laws associated with work injuries. Failure to enlist in proper legal care, counsel, and representation may adversely affect both your health and wealth–allow our firm to fight for you.
To speak to a member of our excellent legal team, contact us today by calling 702-570-0000.