Exciting news for all who have been following the progress of SB 555, the Senate bill introduced by Senator Caballero that will create annual cost-of-living adjustment (COLA) requirements for workers who receive Permanent Partial Disability (PPD) benefits. After a highly anticipated vote, SB 555 has officially moved to the next stage in the legislative process. The bill passed with a 3-1 vote, a crucial step forward.
This bill is a pivotal piece of legislation that promises to have a significant impact on countless Californian workers, and it's now set for its next hearing on May 5th. For those looking to stay informed and engaged, you can catch up on the previous hearing that took place on April 9th by clicking here and visiting the official CalMatters website. It’s a great opportunity to get familiar with the discussion and the key issues at hand as we gear up for the next steps.
SB 555 is designed to assist injured workers who are currently receiving Permanent Partial Disability (PPD) benefits. These workers are often left behind when it comes to cost-of-living adjustments (COLA), which are regularly applied to Social Security benefits. The bill will let workers receiving PPD benefits have their payments adjusted similarly to help them keep up with inflation and rising living costs. This proposed change is an important step in providing fairer compensation for those who have been permanently injured on the job and are no longer able to work at full capacity.
COLA adjustments, which have already been successfully implemented in programs like Social Security, are designed to protect the purchasing power of beneficiaries over time. SB 555 aims to extend this safeguard to injured workers, offering them the same financial protection and stability that others benefit from through other support systems.
If SB 555 is important to you or someone you know, we encourage you to follow the hearings to keep track of how this important bill progresses through the legislative process. We also invite you to visit the blog of Pacific Workers', The Lawyers for Injured Workers often, where we will post about the most important updates that you should know. You can read our previous entry on SB 555, too, by clicking here.