What is the Purpose of the Victim Compensation Fund?

Purpose of the Victim Compensation Fund

The 9/11 Victim Compensation Fund (VCF) was established to provide financial assistance for individuals who suffered physical harm or lost loved ones as a result of the terrorist attacks on September 11, 2001, and related events. VCF Fund may cover medical expenses, funeral costs, loss of income, and other support. In addition to the VCF, victims can also claim tax-free compensation through other avenues, including federal disability benefits and worker’s compensation.

The original VCF was created within weeks of the attacks and operated until December 2003. It paid out more than $7 billion in compensation to 4,560 claimants.

In 2011, the James Zadroga 9/11 Health and Compensation Act, known as the Zadroga Act, reactivated the original VCF. This new version of the program allocated $2.8 billion to pay for those who developed medical conditions from exposure to toxic fumes, dust, and smoke at ground zero. The law also waived the right of those affected to sue the airlines responsible for the attacks.

After the reactivation of the VCF, the Attorney General appointed a new Special Master to oversee the fund. Rupa Bhattacharyya, a former government attorney with 25 years of experience, became the VCF’s fourth Special Master in July 2016. Bhattacharyya’s main task was to make sure the new VCF was “faithful to its statute, fair to claimants, and defensible to taxpayers.”

One of Bhattacharyya’s primary goals was to reduce the amount of time it took for the VCF to review new claims. She and her staff succeeded in shrinking the average processing time from a little over 18 months to 12 months, a remarkable achievement. However, the processing time will vary depending on the complexity of each case.

What is the Purpose of the Victim Compensation Fund?

Those applying to the VCF are required to complete an online or hard-copy registration form. This requires a person’s name, date of birth, Social Security number, and contact information. It also includes a statement of eligibility for compensation and a description of the symptoms they’ve experienced. The process is complicated and time-consuming, but a skilled World Trade Center lawyer can help clients avoid unnecessary delays by submitting their registration forms correctly.

Another critical part of the VCF’s job is assessing how much each claimant will receive. This is a complex calculation that involves calculating the loss of wages and future earnings, as well as the cost of medical treatment and a lifetime of ongoing care. It is crucial for the VCF to make accurate calculations in order to ensure that the correct amounts are awarded.

In addition to assessing the losses, the VCF must also meet strict deadlines and requirements to ensure that all eligible individuals are treated in a timely manner. This includes ensuring that all registration and presence documents are submitted on time and that the VCF is provided with any necessary information that is not readily available. VCF staff also frequently meets with individuals to discuss their cases and answer questions. These meetings are often stressful and challenging, but they are an important part of the VCF’s mission to help those who need it most.