DIR Raises Interest Rate in Updated Annuity Table

Interest rates used to calculate lump-sum settlements in Nevada will increase in July. The Division of Industrial Relations adopted an updated actuarial annuity table, effective July 1, that sets at 2.34% the interest rate for calculating permanent partial disability lump-sum settlements. The rate will be in effect through June 30, 2022. The interest rate used to determine that a lump sum paid for a settlement is equal to the amount that would otherwise be paid over time based on conservative investment returns fell to 1.46% for the fiscal year that started in July 2020 from 2.98% for the fi...