DIR Increases Annuity Table Interest Rate

The Nevada Division of Industrial Relations adopted an updated actuarial annuity table increasing the interest rate used to calculate permanent partial disability lump-sum settlements. The interest rate increased to 2.41%, effective July 1, from 2.34%, the DIR announced. The new rate will be in effect through June 30, 2023. The interest rate is used to ensure a lump-sum payment is equal to the amount that would otherwise be paid over time based on conservative investment returns. State lawmakers in 2017 passed AB 458, setting the discount rate at the average 30-year Treasury constant maturi...