1 Evaluating Economic Damages In Personal Injury by Christopher C. Pflaum, Ph.D. President Spectrum Economics, Inc.
2 The dominant methodology for computing economic loss in personal injury cases is the "human capital" approach, also known as the "lost economic output" method.
3 Lost Economic Output = Present Value [Market Losses + Non-Market Losses] Loss = [Output Before - Output After] + Additional Costs This is a "before and after" method
4 Damages Hierarchy Current Earnings Alternative Earnings Self-Consumption Real Discount Rate (Interest Rate - Inflation Rate) Retirement Benefits (Social Security & Private Pension) All Other Factors: Worklife, Business Expenses, Medical Benefits, Taxes, Household Services
6 Fringe Benefits (continued) Agreed Upon (18.0%) Insurance Pension Other Rest Periods (2.2%) Time Not Worked (9.7%) Discounts, Education, etc... (1.9%) Total Benefits Payments Equal 40.7% of Wages
7 To project what plaintiff would have earned absent the injury, the economist must calculate, estimate or assume three critical factors: What plaintiff was earning prior to accident Degree of "Certainty" At what rate earnings would have escalated between time of injury and trial date At what rate wages will grow in the future
8 Salary To estimate the "before" in our model of economic loss, we must first determine: What was the occupation of the plaintiff at the time of injury? Was it likely or unlikely that the plaintiff would remain in that occupation? What are the economic prospects for that occupation in the short and long run? What were the prospects for the plaintiff within the occupation prior to injury?
9 Earnings Before Current Occupation YES Continue NO New Occupation Known NO Determine Prospects For Industry Assess Plaintiff's Competitiveness Within Industry YES Education, Aptitudes, Intelligence, Etc... U.S. Economic Trends, Technological Innovation, Etc... Likely Career And Income Path Expected Future Wages Before
10 Economic Assumptions of Personal Injury Economists Forecasts of personal injury economists are typically at odds with those of professional forecasters and reality. Expert Real Earnings Growth Rate Real Discount Rate Net Discount Rate Fringe Benefits Cox 1.81% 1.85% 0.04% 7.65% Gamboa, Berla, Vogenthaler "can't predict the future in terms of... wage growth and real rates of interest" Goldstein 3.29% 1.64% (1.62%) 0.00% 22.00% $ amount of health insurance Linke 0-1% 21.00% Rosen/Burke 1.50% 2.50% 1.00% 34.00% Skurski 0.56% 1.68% 1.11% 18.6% % Smith 0.69% 1.97% 1.27% 28.75% Viscusi 0-2% Imputed from DRI, Blue Chip 0.43% 3.20% 2.76% $ amount of health insurance
11 Estimating Lost Earnings to Time of Trial Method Procedure Comment CPI Adjustment Multiply base year earnings by cumulative change in CPI Preserves purchasing power -- Right answer to the wrong question Industry Wage Growth Seniority Approach Escalation Per Labor Contract Multiply base year by average change in weekly earnings of all workers in the industry Use average earnings of similar workers above and below Increase for contractual wage escalation and any lump-sum payments Averages across crafts, seniority groups, managers and hourly workers Captures changes in contract, overtime and other factors -- Data not always available Assumes plaintiff would have remained in same craft
12 Estimating Future Wage Growth Method Procedure Comment Long-run Economywide Historical Industry Growth Offset Method (Growth in Real Wages Equals Real Interest Rate) Projected Growth Use historical or forecast rate of growth in wages of all workers Typically uses growth of average weekly earnings of all workers Lost earnings is the product of base year earnings and worklife -- Earnings growth equal to rate of interest Use forecast In the long-run growth rates will equilibrate -- in shorter term not true Does not consider effect of technological change, etc... No empirical validity to theory. Most proponents cannot explain theory without degenerating into "Econobabble" The most economically defensible method
13 Key Point: In the long-run, real wages cannot grow faster than productivity growth, and productivity growth depends on the savings rate. If the U.S. continues to spend more than it saves, productivity and real wages must fall.
14 And the future does not look bright...
15 Labor Productivity Growth (Non-Farm Business Sector) Percent Per Year (compound annual rate) 3.5 % 3.0 % 2.5 % 2.0 % 1.5 % 3.3 % 1.0 % 0.5 % 0.0 % 2.4 % 2.1 % 1.7 % 1.2 % 0.9 % 1.0 % Labor productivity is equal to output per hour worked. Source: Bureau of Labor Statistics
16 An analysis of the plaintiff's prospects post trauma is performed in a similar fashion considering the limitations imposed by the injury and the costs and potential benefits of additional education, job training, work hardening, etc...
17 Earnings After Post Trauma Skills Capabilities Interests Limitations Education & Retraining Job Requirements Costs and Likely Effectiveness of Intervention Occupational Possibilities Local Labor Market Supply & Demand Wage Rates Jobs plaintiff can hold that are available & pay reasonably Assess Post-Trauma Advancement Potential Likely Career and Income Post Trauma
18 Alternative Earnings: It is imperative to use a voc-rehab specialist to provide foundation for the economist Adults can usually do better than Mc Jobs There is a difference between being vocationally disabled and generally disabled. An injury that precludes being a conductor does not necessarily impact performance, worklife, etc. of a hand packer (improper use of SSA studies by Vocational Economics and others) Retraining options and costs should be carefully evaluated ADA must be considered
19 Issues In Estimating Future Wages Post Trauma Worklife SSA studies are misleading Career chosen should be one which minimizes effect of disability on performance Problem of double dipping Specialized Worklife Tables Age/Earnings Profiles Using P-60 Data Does not separate time and experience effects Recent experience is at odds with historical (see: Men at Work) experience Effect of Technology Unemployment Rate/Workforce Participation Changes In Productivity And Real Wages
20 Fringe Benefits Simply using a percentage of salary as fringe benefits is not only inaccurate, it ignores reality: Social Security benefits are received in the future not while working All government retirement programs are skewed The relationship between amounts paid in and benefits received is not one for one in defined benefit plans, particularly when plan is underfunded Some benefits (e.g. medical insurance) are not related to salary level The proper treatment of benefits is to look at each one individually to determine if it is lost partially or fully and then to price the loss
21 Social Security On a net basis, disability seldom causes any loss in this government benefit. The more typical situation is an economic "gain." Disability converts to old age at age 66 Reduction in future benefit more than offset by reduction in payroll tax Claiming as an element of loss may open the door to consideration of collateral sources If person is disabled and can claim these benefits, how can they be an element of loss Loss of or reduction in survivors' benefit, if any, is typically very small, particularly in two-income households
22 Medicare Benefits are totally unrelated to income - it is cost/needs based If anything, the more one makes the less one receives from Medicare Under current and proposed tax plans, it is an "income tax" element Unemployment Compensation FUTA/SUI are collected on only the first $7,000 - $10,000 of income Should be included if worklife tables or probability of unemployment are used -- otherwise not Usually a very small element Rate may be different before and after because of differing industry layoff practices No loss if capable of alternative employment
23 Workers' Compensation Only an element of "loss" if worklife tables or workforce participation rate used For a disabled worker collecting under system, must consider the implication of a second injury fund Before and after rates may be significantly different, especially if going from a high risk to a low risk industry/employer
24 Health Insurance The overwhelming majority of American workers are covered by health insurance Statistics reported by BLS under-estimate extent of coverage because they do not consider: Unemployment effects Two wage earner family effect Differences between good and average plans tend to be in copay and employer-paid family coverage Must avoid double-count between health insurance and elements of life-care plan
25 Pension & Insurance Defined contribution - amount received by employee is equal to employer contribution. Defined benefit - amount received by an employee is unrelated to the employer contribution with respect to that particular employee. May coordinate with Social Security. Large majority of large and medium-sized employers have employer-paid pension plans with average contribution of about 6% of wages.
26 Retiree Benefits As the workforce continues to age, an increasing share of fringe benefits are being paid to workers who have already retired. Share of Total Fringe Benefits 5.0% 4.0% 3.0% 2.0% 1.0% 1.8% 2.6% 2.2% 2.4% 2.6% 2.6% 3.0% 3.7% 4.7% 0.0%
27 Other Benefits Union-related benefits must be carefully examined Union dues are a cost which should be netted against lost income Life insurance can be priced or computed actuarially from the life tables Rest Periods & Time Not Worked If there is a reduction in vacations, holidays, etc. in the "after" period, these should be priced as a differential at the daily/weekly pay rate. Otherwise they should be ignored.
28 The important economic issue regarding the discount rate is the "real interest rate" implicitly or explicitly chosen. Some useful relationships: Real Rate = Interest Rate - Inflation Rate Net Discount Rate = Interest Rate - Growth Rate in Wages Growth Rate in Wages = Inflation Rate + Rate of Increase in Real Wages Rate of Increase in Real Wages = f(productivity Growth) Productivity Growth = f(investment Rate) Investment = f(savings Rate)
29 The measurement of the real rate is sensitive to a great many factors, but the most important are: Interest rate used Whether forecast or historical averages are used If historical averages are used, the averaging period In general: Long Bond rates produce higher rates Forecast real rates are higher than historical averages Very long and relatively short averaging periods produce higher real rates "Pure Play" real rate instruments (British and Canadian indexed issues) produce the highest real rates
30 Vocational Economics openly uses the offset method. Others approach it more obliquely. Discount Rate of 6.33 % Geometrically divided by 5.05 % Yields a real interest rate of 1.22 % Divided by growth in real earnings of 1.11 % Yields a net discount rate of 0.11% 0 % (Approximately an offset)
31 Real Interest Rates Yield on Intermediate Treasuries, Less Inflation 15% 10% 5% 0% -5% -10% -15%
32 Estimated Real Interest Rates (United States Since 1857) 12 % 10 % 8 % 6 % 4 % 2 % 0 % -2 %
33 Yields on British Indexed Gilts 2's of % Yield Range 5.0 % 4.0 % 3.0 % 2.0 % 1.0 % 0.0 %
34 Household Services Men are pigs -- We simply don't do much around the house and study after study shows this. Significant household service is especially doubtful for those with long commutes or who frequently stay away overnight. Just because someone is injured, it does not follow that their HHS are reduced significantly. Loss is reduced by available time if no longer employable. Wage rate used should reflect that we do not perform HHS chores with professional aplomb. This is a large dollar item.
35 The vocational rehab expert is well-equipped to assist in evaluating this element of economic loss yet seldom becomes involved. HHS are jobs and physical injury limits them. The questions to answer are which jobs and why. That is your job and it would be nice if you would do it.
36 Please put all books and papers under your chair. Have only a blank piece of paper in front of you. Keep your eyes on your own paper...
Calculating Economic Damages in a Personal Injury Case Presented by: Warren M. Johnson, CPA, CFF 1 Personal Injury Damages 1. Principles and Methodology A. Determining Loss Period B. Determining Earning
The Role of a Forensic Economist in a Damage Assessment for Personal Injuries Draft date: 4/6/04 I. Introduction Thomas R. Ireland a What is a forensic Economist? In any assessment of damages in a personal
Methodology For Calculating Damages in the Victim Compensation Fund The calculation of presumed economic loss will generally follow the guidelines established in the original VCF. The Special Master will
A New Way To Assess Damages For Loss Of Future Earnings Richard Lewis, Robert McNabb and Victoria Wass describe research which reveals claimants to have been under-compensated by tort This article summarises
Policy Brief June 2010 Pension Tension: Understanding Arizona s Public Employee Retirement Plans The Arizona Chamber Foundation (501(c)3) is a non-partisan, objective educational and research foundation.
Tamorah Hunt the building blocks of ^ Understanding present value Why economists reach different conclusions with the same methodology *[Ed. Note: The chapter and appendix charts are found at the end of
Higher and Rising (Figure 1) Employer contributions to public school teacher pensions and Social Security are higher than contributions for privatesector professionals, the gap more than doubling between
OUT OF BALANCE: A COMPARISON OF PUBLIC AND PRIVATE EMPLOYEE BENEFITS IN NEW YORK CITY Citizens Budget Commission and Partnership for New York City December 2009 Citizens Budget Commission and Partnership
AT&T Compensation in a Competitive Marketplace May 2012 AT&T s Objective AT&T is one of the largest employers in America, and our goal in these negotiations is to continue to provide and protect high-quality
IBN Glossary - Benefit Definitions Accidental Death and Dismemberment Actuary - (Pension) Added Years Additional Voluntary Contributions (AVC) AVCs in house AVCs - FSAVCs AD&D provides coverage for death
Disability benefits for employees in private pension plans Although benefits vary, for many 20 year employees aged SS, a private pension and social security would replace about one-half of the worker's
Valuing Economic Damages in Personal Injury and Wrongful Death Actions: A Reference Guide Thomas R. Ireland Stephen M. Horner James D. Rodgers This publication is designed to provide accurate and authoritative
FY10 Illinois Pension Reform Proposals SURS Implications Fact Sheet 5/22/09 Pension reform measures covering all of the State employee retirement systems were initially proposed in the Governor s Fiscal
Published in Journal of Legal Economics,Vol.12, No 1, Spring/Summer 2002, pp7-21. Copyright 2004 Loss of Self-Employed Earning Capacity in Wrongful Death or Major Accident of the Self-Employed By Lawrence
GAO United States Government Accountability Office Report to Congressional Requesters February 2006 EMPLOYEE COMPENSATION Employer Spending on Benefits Has Grown Faster Than Wages, Due Largely to Rising
Estimation of Union-Nonunion Compensation Differentials For State and Local Government Workers William Even Raymond E. Glos Professor of Economics Miami University Oxford, OH 45056 David Macpherson E.M.
The Future of Social Security: 12 Proposals You Should Know About Strengthening Social Security AARP s You ve Earned a Say is working to make your voice heard about the future of Social Security. For more
Member Handbook Regina Civic Employees Long Term Disability Plan Table of Contents About the Plan.. Eligibility and Enrollment.... Contributions Definition of Disability.. Applying for Benefits... Qualifying
City Proposal Vs. Status Quo Impact on Average Employee AFSCME District Council 33 January 16, 2013 Features of City s 1-16-2013 Proposal Status Quo City Proposal Wages 0% 2.50% Additional 2% January 1,
A Discussion on Discount Rates in Alberta In personal injury cases, a lump sum award often is provided to a plaintiff as compensation for the loss of a future stream of employment earnings, or to compensate
111th Congress, 2d Session House Document 111-137 THE 2010 ANNUAL REPORT OF THE BOARD OF TRUSTEES OF THE FEDERAL OLD-AGE AND SURVIVORS INSURANCE AND FEDERAL DISABILITY INSURANCE TRUST FUNDS COMMUNICATION
Callan InvesTmenTs InsTITuTe ReseaRCH June 2010 Investment Return Assumptions for Public Funds The Historical Record The return assumptions that public defined benefit plans use to calculate both future
Actuarial Speak 101 Terms and Definitions Introduction and Caveat: It is intended that all definitions and explanations are accurate. However, for purposes of understanding and clarity of key points, the
Working Paper Series Congressional Budget Office Washington, D.C. Comparing Benefits and Total Compensation in the Federal Government and the Private Sector Justin Falk Microeconomic Studies Division Congressional
ECONOMIC LOSS QUESTIONNAIRE AND CASE BACKGROUND INFORMATION WRONGFUL DEATH Please fill out the information as completely as you can and return it along with supporting documents to my office: Gary Skoog,
Company Pension Plans in Canada This article provides an introduction to company pension plans as well as a discussion of several issues currently facing company pension plans in Canada. Company pension
Health Care Expenses and Retirement Income How Escalating Costs Impact Retirement Savings January 2012 About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit
Research perspective 1401 H Street, NW, Suite 1200 Washington, DC 20005 202/326-5800 www.ici.org November 2010 Vol. 16, No. 2 A Look at Private-Sector Retirement Plan Income After ERISA Key Findings Retirement
LGPS 2014 - FREQUENTLY ASKED QUESTIONS THE BACKGROUND TO LGPS 2014 Why is another new scheme being introduced? The Coalition government came to power with a clear agenda to change public sector pensions,
POLICY BRIEF Visit us at: www.tiaa-crefinstitute.org. September 2004 The 2004 Report of the Social Security Trustees: Social Security Shortfalls, Social Security Reform and Higher Education The 2004 Social
The National Accounts and the Public Sector by Casey B. Mulligan Fall 2010 Factors of production help interpret the national accounts. The factors are broadly classified as labor or (real) capital. The
1 Economic Controversy in Personal Injury Cases An Example of a Bad Example Submitted for Publication in the Journal of the Missouri Bar, (Draft 2/14/2012) David G. Tucek Value Economics, LLC 13024 Vinson
THE STANDARD LIFE INSURANCE COMPANY OF NEW YORK Long Term Disability Insurance Benefits Guide For The Employees of The State University of New York Answers to your questions about coverage from The Standard
Assessment of Personal Injury Damages Fifth Edition Christopher J. Bruce, Ph.D. Kelly A. Rathje, M.A. Laura J. Weir, M.A. f LexisNexis* Acknowledgments About the Authors Tables How to Use This Book v vii
UNDERSTANDING THE COST OF EMPLOYEE BENEFIT PACKAGES 2012 WCA CONFERENCE Calculating Total Compensation Absent from much of the discussion employees and the changes made under Act 10 is a how to properly
GLOBAL DEVELOPMENT AND ENVIRONMENT INSTITUTE WORKING PAPER NO. 05-03 Securing Social Security: Sensitivity to Economic Assumptions and Analysis of Policy Options Brian Roach and Frank Ackerman May 2005
TEXAS DEPARTMENT OF TRANSPORTATION Introduction This article is a supplement to the Guide to Contract Change Orders or CO Guide (published as a Tips article, 4th Qtr., 2006). Use this article along with
Addressing Fiscal Sustainability and Fixing the Social Security System: Two Challenges Facing the Nation The Honorable David M. Walker Comptroller General of the United States AARP Board of Directors Annual
DEFINED BENEFIT HYRBRID RETIREMENT PLAN NDPERS is a Defined Benefit Hybrid Retirement plan that pays vested members a retirement benefit, which is generally based on compensation, benefit multiplier, and
New York State Retiree Health Insurance and Related Benefits Frequently Asked Questions 1.) Am I eligible to continue health insurance after I retire? You must meet three eligibility requirements to continue
HEALTHCARE FINANCE: AN INTRODUCTION TO ACCOUNTING AND FINANCIAL MANAGEMENT Online Appendix B Operating Indicator Ratios INTRODUCTION In Chapter 17, we indicated that ratio analysis is a technique commonly
Patient Assistance Program (Charity Care) Program Overview This procedure addresses Northeastern Vermont Regional Hospital s (NVRH) Patient Assistance or Charity Care Program. Charity Care is defined as
VA Financial Policies and Procedures Federal Employees and Veterans Benefits Liabilities CHAPTER 7 0701 OVERVIEW...2 0702 POLICIES...3 0703 AUTHORITY AND REFERENCE...4 0704 ROLES AND RESPONSIBILITIES...5
Measurement of Economic Costs in School Programs for Children and Youth Eric Slade, Ph.D. Center for School Mental Health Analysis and Action Division of Child and Adolescent Psychiatry University of Maryland
August 26, 2014 SPECIAL QUESTIONS Data were collected Aug. 4 7, and 191 Texas business executives responded to the survey. 1. What are your best estimates of the annual percentage change in your firm's
Are Health Industry Compensation Costs a Factor Influencing Employer Health Care Costs? Employer health costs follow trends roughly similar to health industry compensation costs. This relationship holds
NHE DEFLATOR INTERMEDIATE SUMMARY National Health Expenditures National Health Expenditures (NHE) in the United States include all spending related to the purchase of health care goods and services during
The Illinois Turnaround Governor Bruce Rauner Our Goal: Make Illinois the Most Competitive and Compassionate State in America 2 Illinois On Unsustainable Path Raising Taxes Alone Won t Work 3 Net Migration
Economic Development Research Group April 1997 MEASURING ECONOMIC IMPACTS OF PROJECTS AND PROGRAMS GLEN WEISBROD, ECONOMIC DEVELOPMENT RESEARCH GROUP BURTON WEISBROD, ECONOMICS DEPT., NORTHWESTERN UNIV.
your Benefits in Brief American Federation of Nurses-United Healthcare Workers Southern California June 2007 The information presented here is a brief summary of the benefits in effect when this booklet
EBNY Financial, LLC Kevin Kautzmann, CFP Certified Financial Planner 80 Fifth Avenue #1403 New York, NY 212-269-2625 email@example.com www.ebnyfinancial.com Benefit Plans for Small Businesses Page
Note 2 - Summary of Significant Accounting Policies Pensions For purposes of measuring the net pension liability, information about the fiduciary net position of the pension plans and additions to/deductions
Chair Pomeroy and Members, Social Security has met the social insurance promise to ensure workers will not have to live in old age poverty. This promise needs to be guaranteed for current and future workers.
HELP Interest Rate Options: Equity and Costs Bruce Chapman and Timothy Higgins July 2014 Abstract This document presents analysis and discussion of the implications of bond indexation on HELP debt. This
Vertex Wealth Management LLC Michael J. Aluotto, CRPC President Private Wealth Manager 1325 Franklin Ave., Ste. 335 Garden City, NY 11530 516-294-8200 firstname.lastname@example.org Retirement Basics 10/22/2013
ECONOMIC DAMAGES CHECKLIST PERSONAL INJURY 1. Official name of case as filed: Person for whom loss is to be calculated: 2. Attorney s name: Firm name: Attorney s email address: Attorney s phone number:
COMMONWEALTH OF VIRGINIA VIRGINIA COMMUNITY COLLEGE SYSTEM WORKFORCE INVESTMENT ACT VIRGINIA WORKFORCE LETTER (VWL) 13 05 TO: FROM: SUBJECT: LOCAL WORKFORCE INVESTMENT BOARDS WORKFORCE DEVELOPMENT SERVICES
Contents u n i t 1 Introduction to Insurance 1 Introduction 2 Learning Objectives 2 What Is Insurance? 3 Risk 4 Coverage Concepts 8 Types of Insurance 10 Types of Insurers 11 Domicile and Authorization
GALLAGHER, FLYNN & COMPANY, LLP Tax Alert Issue #39 ~ December 3, 2014 Fringe Benefit Reporting As the year draws to a close, we want to remind you about including taxable fringe benefits in all applicable
CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Personnel Step By Step Instructions for: How to Set Up the Fringe Benefits Directory 2009 Central Susquehanna Intermediate Unit, USA Table of Contents
Independent Contractor? or employee? W H AT Y O U N E E D T O K N O W ABOUT HIRING INDEPENDENT CONTRACTORS What is Worker Misclassification? At first glance, it might be hard they to tell the difference
THE SOCIETY OF ACTUARIES IN IRELAND ACTUARIAL STANDARD OF PRACTICE PRSA-5 PERSONAL RETIREMENT SAVINGS ACCOUNTS AND TRANSFERS FROM OCCUPATIONAL SCHEMES Classification Mandatory MEMBERS ARE REMINDED THAT
Internet address: http://www.bls.gov/fls USDL: 04-2343 Technical information: (202) 691-5654 For Release: 10:00 A.M. EST Media contact: (202) 691-5902 Thursday, November 18, 2004 INTERNATIONAL COMPARISONS
The Recession of 2007 2009 February 2012 A general slowdown in economic activity, a downturn in the business cycle, a reduction in the amount of goods and services produced and sold these are all characteristics
Welcome to Fora! Your partner in collective insurances www.fora.se This is about the company s Collective insurances are part of the Swedish social security system and are based on collective agreements
Valuing Personal Injury: How Much for How Long? By Joseph L. Leauanae and Talon C. Stringham In any event whereby some form of economic damage must be measured, whether lost business profits in the context
Retirement Planning Software and Post-Retirement Risks: Highlights Report DECEMBER 2009 SPONSORED BY PREPARED BY John A. Turner Pension Policy Center Hazel A. Witte, JD This report provides a summary of
THE BASICS Understanding pension Schemes 1. There are two basic types:- (1.1) Final Salary Schemes (also known as defined benefit schemes). The deal here is that you get back a proportion of your final
1012 Part 3 E M Additional Activities and Common Disclosures of a Business POSTRETIREMENT BENEFITS OTHER THAN PENSIONS Explain the differences in accounting for pensions and postretirement benefits other
Health Reform Employer Impact Analysis Prepared for Sample Employer Date 2 Health Reform Employer Impact Analysis Overview Beginning in 2014, an applicable large employer becomes subject to what are referred
VALUING YOUR PENSION BENEFITS AND THE ASSET ALLOCATION IMPLICATIONS By William W. Jennings and William Reichenstein Asset allocation should be based on the family s extended portfolio that includes the
The Economic Impact of Virginia Wesleyan College in Hampton Roads June 2013 By James V. Koch Board of Visitors Professor of Economics Old Dominion University Norfolk, Virginia 23529 EXECUTIVE SUMMARY Virginia
Comparison Series Issue 12 Employee Benefits Both and Canadian GAAP are principle based frameworks, and from a conceptual standpoint many of the general principles are the same. However, the application
Revised July 3, 2006 Long Term Disability Insurance Benefit Highlights Tennessee Board of Regents Exempt Employees This guide is designed to provide a general overview of your long term disability benefits.
Social Security Retirement Parman R. Green, MU Extension Ag Business Mgmt. Specialist Farmers and many other self-employed business owners who report income on the cash-basis have a tremendous amount of
E WO/PBC/19/23 ORIGINAL: ENGLISH DATE: JUNE 20, 2012 Program and Budget Committee Nineteenth Session Geneva, September 10 to 14, 2012 LONG-TERM FINANCING OF AFTER-SERVICE HEALTH INSURANCE (ASHI) IN WIPO
REVIEW We ve used the DCF method to find present value. We also know shortcut methods to solve these problems such as perpetuity present value = C/r. These tools allow us to value any cash flow including
APPENDIX I: INCOME AND ASSETS Annual Income Annual gross income means all amounts, monetary or not, which go to, or on behalf of, the family head or spouse or to any other family member received from a