The 2022 maximum wage rate is $94,320.
Maximum wage rates from past years:
- 2021 - $91,930
- 2020 - $90,750
- 2019 - $89,145
- 2018 - $86,971
- 2017 - $85,601
- 2016 - $84,837
About the maximum wage rate
The maximum wage rate is sometimes referred to as “maximum assessable earnings.” The maximum assessable earnings amount is relevant to employers. It establishes a cap on the premiums they pay.
The maximum wage rate is relevant to claimants. It sets a ceiling on the amount injured workers will receive in loss-of-earnings benefits.
The maximum wage rate is set by our Board of Directors each year according to Section 3 of the Workers’ Compensation Act. It rises with the Consumer Price Index.
The maximum assessable earnings amount is always equivalent to the maximum wage rate.
The maximum wage rate sets a maximum amount from which wage-loss benefits are calculated.
Claimants who are being compensated for lost wages receive 75% of their gross pre-injury earnings, tax-free. A claimant who earns $45,000 per year would receive 75% of $45,000, pro-rated to the amount of time they were off work. A claimant who earns $100,000 per year would receive 75% of the current maximum wage rate, not 75% of $100,000.
The maximum assessable earnings amount limits the premiums employers pay, regardless of what individual workers’ salaries are. An employer who pays a worker $45,000 per year is assessed on the $45,000. An employer who pays a worker an annual salary of $100,000 is assessed on the current maximum assessable earnings, not the worker’s $100,000 salary.