What does State Average Weekly Wage mean? Read on to discover the definition & meaning of the term State Average Weekly Wage - to help you better understand the language used in insurance policies.
State Average Weekly Wage
(SAWW) represents the average of wages paid to the workers in a state over a calendar year period. In workers compensation, this figure has many applications. It is utilized by the state to annually set benefit payment levels available to injured workers and in many jurisdictions is used to determine the payroll limitation caps for sole proprietors, partners, executive officers, and limited liability company members.
We hope the you have a better understanding of the meaning of State Average Weekly Wage.