Code of Maine Rules › 90 - INDEPENDENT AGENCIES › 351 - WORKERS' COMPENSATION BOARD › Chapter 8 - PROCEDURES FOR PAYMENT › Appendix 351-8-I

Current through 2024-29, July 17, 2024
The following formulae only apply to continuous compensation
				  payments where the weekly benefit amount remains constant. If the weekly
				  benefit amount changes, and/or there is a break in the period of compensation,
				  the formulae must be applied to each continuous period of equal payments. The
				  interest due from each period must then be added to determine the total
				  interest due.
FORMULAE
(A) To calculate interest when payment is made during the
				  period of entitlement to benefits, the following formula shall be used:
(Weekly compensation x weeks of benefits) x Factor from
				  Table A = Interest due.
For example: A decree dated September 4, 1998 awards
				  compensation at a rate of $300.00 per week from February 2, 1997 to the present
				  and continuing. On September 5, 1998, compensation is paid for incapacity from
				  February 2, 1997 through September 5, 1998. Calculate interest due as
				  follows:
($300.00 x 83) x 0.079084 = $1,969.19
(B) To calculate interest due between the date last payment
				  was due, and the date of payment, the following formula shall be used:
First, determine the amount of interest due for the period
				  of incapacity using formula (A) above. Then apply the following formula:
Amount of interest due between date last payment due and
				  date of payment = ((Weekly compensation x weeks of benefits) + Interest due) x
				  days x 10% / 365
The total amount of interest due will equal the sum of
				  formula (A) and formula (B).
For example: A decree dated September 4, 1998 awards
				  compensation at a rate of $300.00 per week from February 2, 1997 through July
				  26, 1997. On September 9, 1998, compensation is paid for incapacity from
				  February 2, 1997 through July 26, 1997. Calculate interest as follows:
First calculate the interest due for the period of
				  incapacity:
($300.00 x 25) x 0.022328 = $167.46 (The interest due
				  through July 26, 1997.)
Then, calculate the interest due between the date the last
				  payment was due and the payment date:
(($300.00 x 25) + $167.46) x 405 x 10% / 365 = $850.77 (The
				  interest due from August 1, 1997 through September 9, 1998)
Last, calculate the total amount of interest due:
$167.46 + $850.77 = $1,018.23
TABLE A
# WKS
Factor
# WKS
Factor
# WKS
Factor
1
0.000000
53
0.049221
105
0.101698
2
0.000917
54
0.050199
106
0.102741
3
0.001836
55
0.051178
107
0.103785
4
0.002755
56
0.052158
108
0.104830
5
0.003676
57
0.053139
109
0.105877
6
0.004598
58
0.054122
110
0.106924
7
0.005521
59
0.055106
111
0.107974
8
0.006445
60
0.056091
112
0.109024
9
0.007370
61
0.057077
113
0.110076
10
0.008296
62
0.058064
114
0.111129
11
0.009224
63
0.059053
115
0.112183
12
0.010152
64
0.060043
116
0.113239
13
0.011082
65
0.061034
117
0.114296
14
0.012013
66
0.062026
118
0.115354
15
0.012945
67
0.063020
119
0.116414
16
0.013878
68
0.064014
120
0.117475
17
0.014812
69
0.065010
121
0.118537
18
0.015747
70
0.066007
122
0.119601
19
0.016684
71
0.067006
123
0.120666
20
0.017622
72
0.068006
124
0.121732
21
0.018561
73
0.069006
125
0.122800
22
0.019501
74
0.070009
126
0.123868
23
0.020442
75
0.071012
127
0.124939
24
0.021384
76
0.072017
128
0.126010
25
0.022328
77
0.073022
129
0.127083
26
0.023272
78
0.074030
130
0.128157
27
0.024218
79
0.075038
131
0.129233
28
0.025165
80
0.076048
132
0.130310
29
0.026113
81
0.077058
133
0.131388
30
0.027062
82
0.078070
134
0.132468
31
0.028013
83
0.079084
135
0.133549
32
0.028965
84
0.080098
136
0.134631
33
0.029917
85
0.081114
137
0.135715
34
0.030871
86
0.082131
138
0.136800
35
0.031826
87
0.083150
139
0.137886
36
0.032783
88
0.084169
140
0.138974
37
0.033740
89
0.085190
141
0.140063
38
0.034699
90
0.086213
142
0.141153
39
0.035659
91
0.087236
143
0.142245
40
0.036620
92
0.088261
144
0.143338
41
0.037582
93
0.089287
145
0.144433
42
0.038545
94
0.090314
146
0.145529
43
0.039510
95
0.091342
147
0.146626
44
0.040476
96
0.092372
148
0.147725
45
0.041443
97
0.093403
149
0.148825
46
0.042411
98
0.094436
150
0.149926
47
0.043380
99
0.095469
151
0.151029
48
0.044351
100
0.096504
152
0.152133
49
0.045322
101
0.097541
153
0.153238
50
0.046295
102
0.098578
154
0.154345
51
0.047269
103
0.099617
155
0.155454
52
0.048245
104
0.100657
156
0.156563
157
0.157674
209
0.217412
261
0.281194
158
0.158787
210
0.218599
262
0.282462
159
0.159901
211
0.219788
263
0.283732
160
0.161016
212
0.220979
264
0.285004
161
0.162132
213
0.222171
265
0.286277
162
0.163251
214
0.223364
266
0.287551
163
0.164370
215
0.224559
267
0.288828
164
0.165491
216
0.225756
268
0.290106
165
0.166613
217
0.226954
269
0.291385
166
0.167737
218
0.228153
270
0.292666
167
0.168862
219
0.229354
271
0.293949
168
0.169988
220
0.230557
272
0.295233
169
0.171116
221
0.231761
273
0.296520
170
0.172245
222
0.232967
274
0.297807
171
0.173376
223
0.234174
275
0.299097
172
0.174508
224
0.235382
276
0.300388
173
0.175642
225
0.236593
277
0.301680
174
0.176777
226
0.237804
278
0.302974
175
0.177913
227
0.239018
279
0.304270
176
0.179051
228
0.240232
280
0.305568
177
0.180190
229
0.241449
281
0.306867
178
0.181331
230
0.242666
282
0.308168
179
0.182473
231
0.243886
283
0.309470
180
0.183616
232
0.245107
284
0.310775
181
0.184761
233
0.246329
285
0.312080
182
0.185908
234
0.247553
286
0.313388
183
0.187056
235
0.248779
287
0.314697
184
0.188205
236
0.250006
288
0.316008
185
0.189356
237
0.251235
289
0.317320
186
0.190508
238
0.252465
290
0.318635
187
0.191662
239
0.253697
291
0.319950
188
0.192817
240
0.254930
292
0.321268
189
0.193973
241
0.256165
293
0.322587
190
0.195131
242
0.257401
294
0.323908
191
0.196291
243
0.258639
295
0.325231
192
0.197451
244
0.259879
296
0.326555
193
0.198614
245
0.261120
297
0.327881
194
0.199778
246
0.262363
298
0.329208
195
0.200943
247
0.263607
299
0.330538
196
0.202110
248
0.264853
300
0.331869
197
0.203278
249
0.266101
301
0.333202
198
0.204448
250
0.267350
302
0.334536
199
0.205619
251
0.268600
303
0.335872
200
0.206791
252
0.269852
304
0.337210
201
0.207966
253
0.271106
305
0.338550
202
0.209141
254
0.272362
306
0.339891
203
0.210318
255
0.273619
307
0.341234
204
0.211497
256
0.274877
308
0.342578
205
0.212677
257
0.276137
309
0.343925
206
0.213858
258
0.277399
310
0.345273
207
0.215041
259
0.278663
311
0.346623
208
0.216226
260
0.279928
312
0.347974