|Author||Subject: Re: SAIF Propaganda|
|Tommy|| Posted At 00:43:58 04/14/2000
Employees don't pay worker's comp premiums, but they pay a couple of dollars
a month as part of an assessment collected by the State to help pay for the
Employer at Injury Program, (EAIP), a program that subsidizes injured worker's
wages while they are recovering from their injury and released to light duty
work, and to help pay for inflationary increases in benefits to widows and
children. In essence, it is another State tax and is unrelated to the
premiums paid by employers for workers' compensation benefits.
You appear to be confusing dividends returned to employers from SAIF Corp.
based upon the individual employers losses with settlement money that
stemmed from a lawsuit brought by employers against the State of Oregon.
This law suit was based upon the State's unlawfully taking of reserves from
SAIF Corporation which is composed of premium paid by employers and
investment income derived from this premium. As part of the settlement,
the litigants (employers) agreed to take two payments from the State of
Oregon for a total of $145 million and SAIF Corporation was given the
remaining $80 million. However, SAIF's Board of Directors decided to
return the remaining $80 million and any interest earned on this money to
the employers that were affected by this unlawful seizure by the State.
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