SIF Assessment Formula Unchanged for 2024

The Indiana Workers’ Compensation Board announced that assessment factors for the Second Injury Fund will be unchanged from 2023. The board on Tuesday reported that the balance remaining in the fund was about $4.8 million. In 2021, the fund paid about $7.8 million to beneficiaries to cover statutory awards or prosthetic replacements. Because available assets are less than 135% of payments, the board said an assessment is appropriate for 2024. The board said it would use the same formulas for the 2024 assessment as were applied this year. The WCB said assessments will come out in the ...