Future payments of compensation may be commuted to a present worth lump sum payment on the following conditions:
1. When the period during which compensation is payable can be definitely determined.
2. When it shall be shown to the satisfaction of the industrial commissioner that such commutation will be for the best interest of the person or persons entitled to the compensation, or that periodical payments as compared with a lump sum payment will entail undue expense, hardship, or inconvenience upon the employer liable therefor.
3. When the recipient of commuted benefits is a minor employee, the industrial commissioner may order that such benefits be paid to a trustee as provided in section 85.49.
4. When a person seeking a commutation is a surviving spouse, a permanently and totally disabled employee, or a dependent who is entitled to benefits as provided in section 85.31, subsection 1, paragraphs "c" and "d", the future payments which may be commuted shall not exceed the number of weeks which shall be indicated by probability tables designated by the industrial commissioner for death and remarriage, subject to the provisions of chapter 17A.
Future payments of compensation shall not be commuted to a present worth lump sum payment when the employee is an inmate as set forth in section 85.59.
[S13, § 2477-m14; C24, 27, 31, 35, 39, § 1405; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 85.45]
Referred to in § 87.11, 515B.5
Intent; commutation of future payments to a present lump-sum payment; 86 Acts, ch 1246, § 604 ~ISee also § 87.11
Iowa General Assembly
Search: Iowa Code 1995
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