DWC Trims Discount Rate to 3.59%

The Texas Division of Workers' Compensation has set the interest rate and the discount rate for the first quarter of 2021 at 3.59%. The rate is used to calculate the discount on lump sum settlements, funding for the Subsequent Injury Fund, interest on accrued benefits and overpayment of some benefits. By state law, it should be set at the rate for one-year U.S. Treasury bills, plus 3.5%, the division said in a bulletin. The rate is effective Jan. 1 through March 31. The rate has shown a steady decline over the past nine quarters as Federal Reserve interest rates have remained histo...