Transfer from accident fund and/or appropriate accounts to reserve fund—Annuity values. (Effective until July 1, 2025.)
For every case resulting in death or permanent total disability the department shall transfer on its books from the accident fund of the proper class and/or appropriate account to the "reserve fund" a sum of money for that case equal to the estimated present cash value of the monthly payments provided for it, to be calculated upon the basis of an annuity covering the payments in this title provided to be made for the case. Such annuity values shall be based upon rates of mortality, disability, remarriage, and interest as determined by the department, taking into account the experience of the reserve fund in such respects.
[ 2018 c 282 s 1; 1992 c 124 s 1; 1989 c 190 s 1; 1983 c 312 s 1; 1981 c 325 s 1; 1971 ex.s. c 289 s 56; 1961 c 274 s 5; 1961 c 23 s 51.44.070. Prior: 1959 c 308 s 8; 1957 c 70 s 42; prior: 1951 c 236 s 7; 1941 c 169 s 1; Rem. Supp. 1941 s 7705-2; prior: 1929 c 132 s 2, part; 1927 c 310 s 4, part; 1923 c 136 s 2, part; 1919 c 131 s 4, part; 1917 c 28 s 1, part; 1913 c 148 s 1, part; 1911 c 74 s 5, part; Rem. Supp. 1949 s 7679, part.]
NOTES:
Transfer from accident fund and/or appropriate accounts to reserve fund—Annuity values. (Effective July 1, 2025.)
For every case resulting in death or permanent total disability the department shall transfer on its books from the accident fund of the proper class and/or appropriate account to the "reserve fund" a sum of money for that case equal to the estimated present cash value of the monthly payments provided for it, to be calculated upon the basis of an annuity covering the payments in this title provided to be made for the case. Such annuity values shall be based upon rates of mortality, disability, remarriage, and interest as determined by the department, taking into account the experience of the reserve fund and self-insurance reserve fund in such respects.
[ 2023 c 110 s 6; 2018 c 282 s 1; 1992 c 124 s 1; 1989 c 190 s 1; 1983 c 312 s 1; 1981 c 325 s 1; 1971 ex.s. c 289 s 56; 1961 c 274 s 5; 1961 c 23 s 51.44.070. Prior: 1959 c 308 s 8; 1957 c 70 s 42; prior: 1951 c 236 s 7; 1941 c 169 s 1; Rem. Supp. 1941 s 7705-2; prior: 1929 c 132 s 2, part; 1927 c 310 s 4, part; 1923 c 136 s 2, part; 1919 c 131 s 4, part; 1917 c 28 s 1, part; 1913 c 148 s 1, part; 1911 c 74 s 5, part; Rem. Supp. 1949 s 7679, part.]
NOTES:
Effective date—2023 c 110 ss 1 and 4-13: See note following RCW 51.44.155.