ECONOMIC LOSS
Personal Injury and Wrongful Death
Calculations of the economic loss of an individual are often required in a variety of cases including personal injury, wrongful death, wrongful termination, and failure to promote.
Employment Research Corporation will prepare a loss evaluation based on the specific circumstances of the employee. The personal information we typically use in order to provide an estimate of economic loss include:
- Earnings history or the earnings of comparable workers
- Education/training
- Age
- Seniority
- Fringe benefits
- Pension plan
- Profit sharing
- Employee stock option plan
- Household services provided
- Assessment by a vocational rehabilitation expert
To estimate economic loss, personal data will be combined with data from government and other sources on topics such as life expectancy, fringe benefit rates, earnings by occupation, and life cycle earnings patterns.
Using the relevant information, Employment Research Corporation will prepare a report detailing the worker's estimated loss of compensation, including lost pension and medical benefits, if necessary. Separate calculations can also be prepared for loss of household services or economic valuation of a life care plan.
