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A key to determining lifetime expected earnings is quantifying the number of years a person can reasonably be expected to work. The New Worklife Expectancy Tables define varying values depending upon the existence and severity of a work disability. These articles provide background into the importance of these tables.
Male and female worklife expectancies vary along with the resulting projections of earning capacity, despite a trend narrowing that gap. Why should an attorney learn more about this statistical phenomenon?
Worklife estimates are an essential key when determining lifetime expected earnings loss in cases of permanent, partial disability. Attorneys may be more familiar with other issues associated with loss of earnings including: what kind of work can now be performed and availability of this work in the client’s labor market.
Use of The Tables as a foundation for expert opinion is supported by current judicial thought represented in such well-known U.S. Supreme Court decisions as Daubert v. Merrell Dow Pharmaceuticals and Kumho Tire v. Patrick Carmichael . For more in-depth discussion of this issue, visit the VEI Technical website.
Worklife is the focus of some current controversy and a subject on which attorneys should be well versed. It is from worklife estimates that a client's lifetime expected earnings and the loss thereof is wholly or partially derived.
Typically, individuals do not work throughout a lifetime. The majority retire by age 65, with some working to age 70, and a very few working beyond age 70. Worklife expectancy is influenced by such factors as death, disability, level of educational attainment, and unemployment or withdrawal from the work force. Last Modified: Wednesday March 15, 2006 02:16 PM |
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