Benefit to Increase, SIF Contribution Rate to Drop in 2022

The Alaska Workers’ Compensation Division announced that maximum and minimum benefits will increase 7.7% in 2022. At the same time, the division announced that the Second Injury Fund contribution rate will drop next year. Maximum and minimum benefits are based on the state's average weekly wage, which increased to $1,165 from $1,082. As a result, the maximum benefit under AS 23.30.175(a) — set at 120% of the average wage — will increase to $1,398 from $1,298. The minimum compensation rate under the same section, which is 22% of the maximum benefit, will increase to $308...