Latest Projections Find Savings in Reform Bill

Senate Bill 863 would increase permanent disability benefits by $600 million, but with cost-cutting measures reducing expenses by $1.1 billion, the net savings from the proposal would be $543 million, according to an analysis by the California State Compensation Insurance Fund.The Workers’ Compensation Insurance Rating Bureau is also saying that the bill will lead to savings, contradicting its analysis from Monday that projected annual cost increases of $300 million beginning in 2014.On Monday, the Assembly amended SB 863, by Sen. Kevin de Leon, D-Los Angeles, and Assemblyman Jose Solori...