Liquidate means to convert assets into cash or cash equivalents by selling them on the open market. Liquidate is also a term used in bankruptcy procedures in which an entity chooses or is forced by a legal judgment or contract to turn assets into a liquid form.
The compensation rate for a workersâ compensation claim is calculated based on your average weekly wage. In South Carolina, the compensation rate is 66 2/3% of the average weekly wage subject to the maximum and minimum compensation rates in effect on the date of injury. The compensation rate is set as of the date of injury and is not affected by later changes in the allowed maximum or by inflation. The benefits that you receive are not taxable. A Form 20 is used to calculate an employeeâs average weekly wage.
Workers' compensation. Workers' compensation is a form of insurance payment to employees if they are injured at work or become sick due to their work. Workers' compensation includes payments to employees to cover their: 1  wages while they're not fit for work. 2  medical expenses and rehabilitation.orkers' compensation is a form of insurance payment to employees if they are injured at work or become sick due to their work. Workers' compensation includes payments to employees to cover their: