Beginning July 1st:
- 10.3 percent Cost of Living Adjustments (COLAs) for Eligible Injured Workers
- Maximum weekly benefit will rise 10.3 percent
- WSI Board recommends premium dividend credits of $160 million
(Bismarck, North Dakota)…Starting July 1st, nearly 1,000 of the most seriously injured workers and surviving spouses in North Dakota will begin receiving larger benefit checks. Workforce Safety & Insurance (WSI) announced the new rates at a WSI Board meeting. The increase is a result of a Cost of Living Adjustment (COLA) of 10.3 percent for those eligible injured workers who receive total disability benefits. The increase also applies to survivor benefits that are paid as the result of a death.
COLAs are based on the percentage increase in the state’s average weekly wage (SAWW). The inflation adjustment is paid after an eligible injured worker has received wage-replacement benefits for at least 3 consecutive years. It is the largest COLA in the history of the agency surpassing last year’s 9.9 percent.
On July 1, 2013 the new maximum weekly benefit will rise to $1,098 per week. The new minimum weekly benefit will be increased to $527 per week. These increases apply to job-related injuries that occur after July 1st.
Finally, the WSI Board recommended, for the fourth year in a row, an across-the-board 50 percent premium dividend credit to almost 22,000 eligible North Dakota employers for the upcoming premium year. The premium dividend credit –estimated to be nearly $160 million—will be available to all employers who have maintained an account in good standing and who pay more than the minimum premium.