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Insurers Have Been Draining Funds from New Jersey’s Pensions for 15 Years Report calls 2006 policy that shifted financial obligations for employee injuries to pensions ‘a windfall to insurers.’ Insurance firms have been siphoning off money from New Jersey’s pension funds for the past 15 years thanks to a policy decision that shifted financial obligations for employee injuries to pension funds, according to an investigation by acting state Comptroller Kevin Walsh. A report on the investigation said that a 2006 policy adopted by the Division of Workers’ Compensation (DWC) encourages injured employees to accept continuing medical monitoring and coverage instead of cash settlements. The report said the approach, which puts the financial burden on pension funds to pay workers rather than on insurance firms, has provided “a windfall to insurers and financially harms the pension funds.”

New jerseyUnited statesKevin walshDivision of worker compensationDivision of pensionsComptroller kevinWorker compensationDivision of workers compensationபுதியது ஜெர்சிஒன்றுபட்டது மாநிலங்களில்கெவின் வால்ஷ்பிரிவு ஆஃப் தொழிலாளி இழப்பீடுபிரிவு ஆஃப் ஓய்வூதியங்கள்கம்ப்ரோலர் கெவின்தொழிலாளி இழப்பீடுபிரிவு ஆஃப் தொழிலாளர்கள் இழப்பீடு