Retaining an economist in a personal injury matter starts with a conflict check on the parties and counsel, then a written scope that names the components to be valued: past and future lost earnings, fringe benefits, household services, and the present value of future care if a life care plan or treating recommendations will supply it. The engagement letter should state the report deadline, the disclosure format, and which other experts will supply the post-injury work capacity and care inputs, so the economist can issue a records request that reaches every source at once.
Checklist
Provide the party and counsel names for the conflict check before any records are sent
Agree on the loss components in scope and whether household services and future care are included
Identify which experts will supply the work-capacity and care inputs and when their opinions are expected
Send the economist's records list to the client, the employer, and the benefit plan administrators at the same time
Confirm the disclosure deadline and whether a draft review with counsel is planned
Questions to ask the economist
What is your records list for this kind of claim, and which items are essential rather than helpful?
How do you handle a change in the work-capacity or care opinions after the report is issued?
Will the report state each assumption and source so it can be examined item by item?
How do you treat self-employment income or a second job in the earnings base?
Timeline
About one week for retention and the records request, then two to four weeks of analysis after the records arrive, then one to two weeks for the draft and final report.
Required documents
Tax returns for several years before the injury and every year since
W-2s, 1099s, pay stubs, and the employer's personnel file
Benefit plan documents and statements for retirement, health, and other fringe benefits
Medical opinions on work restrictions and any life care plan or treatment projection
Household composition and a description of the person's pre-injury work in the home
Common pitfalls
Sending medical records without the earnings records, which are what the economist needs first
Leaving the scope open so the report values components the pleadings do not claim or omits ones they do
Retaining the economist after the other experts' deadlines, so their opinions are not available when the report is due
The parties and the conflict check, the components to be valued, the deadline and disclosure format, the fee schedule and retainer, who supplies the work-capacity and care inputs, and whether counsel will review a draft. A clear scope keeps the report aligned with the claim as pleaded.
How is the economist's fee structured?
Most engagements bill hourly against a retainer, with the fee basis, the retainer, and the rates for analysis, deposition, and trial time stated in the engagement letter. The fee should not be tied to the outcome, and the letter should say so, because a contingent fee would be raised on cross-examination. Counsel can scope phases so the cost of the preliminary work is known before the full report is authorized.
When should the economist be retained relative to the disclosure deadline?
Early enough for the records request, the analysis, and the draft review to fit before the deadline, and after the other experts' schedules are known so their work-capacity and care opinions arrive first. The timeline on this page assumes the records come in promptly; employer and benefit plan records often take longer than the client's own documents. A late retention compresses every phase and shows in the report.
References
U.S. Bureau of Labor Statistics. (n.d.). Current Population Survey (CPS). U.S. Department of Labor. bls.gov
U.S. Bureau of Labor Statistics. (n.d.). Employer Costs for Employee Compensation (ECEC). U.S. Department of Labor. bls.gov