N002186
Monday, January 21, 2002 5:03 PM
Suggestions
Minimum Award and Non-Economic Losses
No victim's family should receive zero from the Victim's Compensation
Fund. A substantial minimum amount should be established for all
applicants and this amount should be known up front before the decision
is made whether to forgo third party litigation. The present
arrangement defies logic and common courtesy. Commentators have
indicated that the proposed amounts for non-economic losses are too low.
Therefore I believe that the amounts proposed for non-economic losses be
doubled to $500,000 for each decedent and $100,000 for each of the
victims spouse and dependents. This aggregate amount would then
constitute the minimum amount to be received by a participant in the
Fund. For example the minimum amount for a widow with two children
would be $800,000 ($500,000 for the decedent plus $300,000 for the wife
and two children). There would be no deductions from this minimum
amount for anything. Hopefully these changes will eliminate some of the
current frustration with the Fund. Widows should not have to wear their
wedding rings on chains around their necks to indicate that they will
get "0" from the Fund. My proposal is simple and straight-forward. It
is easy to determine up front what the minimum amount will be. Like
regular awards from the Fund this minimum amount should also be free of
Federal and State taxes.
Other Comments
The final rules should contain examples of the present value compuations
of selected collateral assets. Particularly the time periods.
If my suggesions about a minimum award as discussed above are not
adopted then I suggest that the amount of collateral assets that are
deducted be capped at $250,000.
Thank you for the opportunity to submit comments.
Respectfully submitted,
Individual Comment