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11-9-804. Lump-sum settlement.
Arkansas Code — all titles (historical 2020) · legal_authorities
11-9-804. Lump-sum settlement.
(a)(1) Whenever the Workers' Compensation Commission determines that it is for the best interest of the parties entitled to compensation, and after due notice to all parties in interest of a hearing, the liability of the employer for compensation may be discharged by the payment of a lump sum equal to the present value of all future payments of compensation computed at ten percent (10%) discount, compounded annually.
(2) Lump-sum settlements shall not be allowed if the employer presents evidence which proves by a preponderance of the evidence that ordering the compensation discharged in such a manner would result in a substantial adverse effect on the continuing economic viability of the employer.
(b)(1) The probability of the death of the injured employee or other persons entitled to compensation before the expiration of the period during which they are entitled to compensation shall, in the absence of special circumstances making such a course improper, be determined in accordance with the following table.
(2) It is intended that this table shall be used in conjunction with the discount rate prescribed in subsection (a)(1) of this section for the purpose of calculating the present value of lump-sum settlements to injured employees.
Age Years Average Remaining Lifetime Years 1 74.97 2 75.37 3 74.47 4 73.54 5 72.59 6 71.63 7 70.67 8 69.70 9 68.73 10 67.75 11 66.77 12 65.80 13 64.82 14 63.84 15 62.87 16 61.90 17 60.94 18 59.97 19 59.02 20 58.06 21 57.10 22 56.15 23 55.19 24 54.24 25 53.29 26 52.33 27 51.38 28 50.42 29 49.47 30 48.52 31 47.57 32 46.62 33 45.68 34 44.73 35 43.79 36 42.86 37 41.92 38 40.66 39 40.07 40 39.14 41 38.23 42 37.31 43 36.41 44 35.50 45 34.60 46 33.71 47 32.83 48 31.95 49 31.08 50 30.21 51 29.35 52 28.49 53
Source: Arkansas Code — historical release 78 (November 6, 2020) · 11-9-804
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:11-9-804
Source file: gov.ar.code.title.11.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6896b86727c872b0406596fc7e4da21826c377b712e92cb45a067230f710905d
Source location: content.xml paragraph 9632
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11-9-804. Lump-sum settlement.
(a)(1) Whenever the Workers' Compensation Commission determines that it is for the best interest of the parties entitled to compensation, and after due notice to all parties in interest of a hearing, the liability of the employer for compensation may be discharged by the payment of a lump sum equal to the present value of all future payments of compensation computed at ten percent (10%) discount, compounded annually.
(2) Lump-sum settlements shall not be allowed if the employer presents evidence which proves by a preponderance of the evidence that ordering the compensation discharged in such a manner would result in a substantial adverse effect on the continuing economic viability of the employer.
(b)(1) The probability of the death of the injured employee or other persons entitled to compensation before the expiration of the period during which they are entitled to compensation shall, in the absence of special circumstances making such a course improper, be determined in accordance with the following table.
(2) It is intended that this table shall be used in conjunction with the discount rate prescribed in subsection (a)(1) of this section for the purpose of calculating the present value of lump-sum settlements to injured employees.
Age Years Average Remaining Lifetime Years 1 74.97 2 75.37 3 74.47 4 73.54 5 72.59 6 71.63 7 70.67 8 69.70 9 68.73 10 67.75 11 66.77 12 65.80 13 64.82 14 63.84 15 62.87 16 61.90 17 60.94 18 59.97 19 59.02 20 58.06 21 57.10 22 56.15 23 55.19 24 54.24 25 53.29 26 52.33 27 51.38 28 50.42 29 49.47 30 48.52 31 47.57 32 46.62 33 45.68 34 44.73 35 43.79 36 42.86 37 41.92 38 40.66 39 40.07 40 39.14 41 38.23 42 37.31 43 36.41 44 35.50 45 34.60 46 33.71 47 32.83 48 31.95 49 31.08 50 30.21 51 29.35 52 28.49 53 27.65 54 26.80 55 25.97 56 25.14 57 24.31 58 23.49 59 22.68 60 21.88 61 21.09 62 20.30 63 19.53 64 18.76 65 18.00 66 17.25 67 16.51 68 15.78 69 15.06 70 14.35 71 13.67 72 13.01 73 12.38 74 11.77 75 11.18 76 10.61 77 10.04 78 9.48 79 8.93 80 8.40 81 7.90 82 7.42 83 6.98 84 6.57 85 6.17 86 5.80 87 5.43 88 5.09 89 4.77 90 4.47 91 4.18 92 3.92 93 3.69 94 3.50 95 3.33 96 3.18 97 3.06 98 2.95 99 2.85 100 2.77
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(c) The probability of the happening of any other contingency affecting the amount or duration of compensation shall be disregarded, except the possibility of the remarriage of the widow, which shall be determined in accordance with the Danish Annuity and Dutch Remarriage Table.
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