When the commutation is ordered, the industrial commissioner shall fix the lump sum to be paid at an amount which will equal the total sum of the probable future payments capitalized at their present value and upon the basis of interest at the rate provided in section 535.3 for court judgments and decrees. Upon the payment of such amount the employer shall be discharged from all further liability on account of the injury or death, and be entitled to a duly executed release, upon filing which the liability of the employer under any agreement, award, finding, or judgment shall be discharged of record.
[S13, § 2477-m14; C24, 27, 31, 35, 39, § 1407; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 85.47; 82 Acts, ch 1161, § 16]
Intent; commutation of future payments to a present lump-sum payment; 86 Acts, ch 1246, § 604
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Search: Iowa Code 1995
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