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Domestic News
May 6, 1932
The Alaskan
Petersburg, Alaska
What is this article about?
Alaskan on partial disability pension inquires about lump sum option; U.S. Employees' Compensation Commission advises against it, favoring monthly payments for sustained support.
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Disability Pension
An Alaskan constituent who has been receiving $68 per month pension for partial disability writes to inquire what amount in a lump sum settlement he would be entitled to receive. The Delegate took the matter up with the United States Employees' Compensation Commission and the Chairman sends a letter of information with the following statement: "The Commission has found, from experience, that the payment of a lump sum in lieu of regular installments of compensation is not advisable in the interest of the injured employee. The unsatisfactory experience which has followed where lump sum settlements have been made has caused the Commission to practically discontinue making this form of settlement. In the case of an employee well advanced in years, the payment of compensation in regular monthly installments would appear to be much more advantageous than the payment of a lump sum. It would, at least, insure the injured employee a regular income which would enable him to be self-supporting during the remainder of his life and he would not be left to the uncertainty of safely investing the proceeds of a lump sum payment."
An Alaskan constituent who has been receiving $68 per month pension for partial disability writes to inquire what amount in a lump sum settlement he would be entitled to receive. The Delegate took the matter up with the United States Employees' Compensation Commission and the Chairman sends a letter of information with the following statement: "The Commission has found, from experience, that the payment of a lump sum in lieu of regular installments of compensation is not advisable in the interest of the injured employee. The unsatisfactory experience which has followed where lump sum settlements have been made has caused the Commission to practically discontinue making this form of settlement. In the case of an employee well advanced in years, the payment of compensation in regular monthly installments would appear to be much more advantageous than the payment of a lump sum. It would, at least, insure the injured employee a regular income which would enable him to be self-supporting during the remainder of his life and he would not be left to the uncertainty of safely investing the proceeds of a lump sum payment."
What sub-type of article is it?
Economic
What keywords are associated?
Disability Pension
Lump Sum Settlement
Compensation Commission
Alaska Constituent
Where did it happen?
Alaska
Domestic News Details
Primary Location
Alaska
Outcome
the commission advises against lump sum settlements, recommending regular monthly installments for ongoing support.
Event Details
An Alaskan constituent receiving $68 monthly for partial disability inquires about lump sum entitlement. The Delegate consults the United States Employees' Compensation Commission, whose Chairman states that lump sums are not advisable based on experience, especially for older employees, to ensure regular income.