Interest/Discount Rate Rises for Next Quarter

The Division of Workers’ Compensation has determined that any interest or discount provided for in the Texas Workers’ Compensation Act will be at the rate of 5.21% for the first quarter of 2018. The rate was computed by using the treasury constant maturity rate for one-year treasury bills (1.71%) as published by the Federal Reserve Board on Dec. 17, plus 3.5% as required by the Texas Labor Code, Section 401.023. The rate will be effective Jan. 1 through March 31, Workers’ Compensation Commissioner W. Ryan Brannan wrote stakeholders late Thursday. The current discount a...