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FOR MORE INFORMATION CONTACT: Tammy Cavender (573)
751-7500
FOR IMMEDIATE RELEASE: July 31, 2007
Second Injury Fund Actuarial Study Available August 1
Jefferson City – PricewaterhouseCoopers, LLP will have a final version of an actuarial study they conducted on the second injury fund on Wednesday, August 1. The study was requested by Governor Blunt after his disappointment in the scope and lack of recommendations from the State Auditor’s report released in late April.
“We were very fortunate to have PricewaterhouseCoopers as the actuarial firm for this study,” said Jeff Buker, director of the Missouri Division of Workers’ Compensation. “Their expertise and credibility assisted in producing an objective assessment of the second injury fund with solid facts and recommendations.”
PricewaterhouseCoopers is the world’s largest professional services firm with representation in 149 countries. PricewaterhouseCoopers provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. PricewaterhouseCoopers audits 32 percent of the Global Fortune 500 companies including Prudential, IBM and Ford Motor.
“Addressing the solvency of the second injury fund is a key priority for me as the new director,” said Buker. “As I review second injury fund data, I’m uncovering disturbing information regarding the large number of repeat payments to the same injured workers. Over 3,000 people have filed five or more claims against the second injury fund, with some receiving over 10 separate payouts. With fund insolvency looming over the next few years, it is imperative the second injury fund is vigorously defended from any possible abuse.”
PricewaterhouseCoopers’ actuarial study will be available on Wednesday, August 1. The study will include information on the increase in expenditures, the affect of the Schoemehl case and recommendations for fund solvency.
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Information and Planning · 421 East Dunklin
· P.O. Box 504 · Jefferson City, MO
65102-0504
573-751-7500 · 573-751-6552 (Fax)
Relay Missouri: 1-800-735-2966 (TDD) 1-800-735-2466 (Voice)