Iowa HF673 amends workers' compensation benefits calculations to include overtime and premium pay, and mandates annual cost-of-living adjustments.

Iowa HF673 modifies the calculation of weekly workers' compensation benefits to include an employee's overtime and premium pay. It specifies how weekly earnings should be computed for different pay periods, including for employees paid on a daily or hourly basis. The bill also mandates an annual cost-of-living adjustment for compensation benefits, aligning with the adjustment made to Social Security disability benefits. This adjustment applies to permanent total disability benefits or death benefits.

Iowa HF673 amends workers' compensation benefits calculations to include overtime and premium pay, and mandates annual cost-of-living adjustments.

Iowa HF673 modifies the calculation of weekly workers' compensation benefits to include an employee's overtime and premium pay. It specifies how weekly earnings should be computed for different pay periods, including for employees paid on a daily or hourly basis. The bill also mandates an annual cost-of-living adjustment for compensation benefits, aligning with the adjustment made to Social Security disability benefits. This adjustment applies to permanent total disability benefits or death benefits.