Division Announces 2.7% Increase in Maximum Benefit Rate

Tuesday, September 25, 2018 | 0

The Texas Division of Workers’ Compensation announced that the maximum workers’ compensation benefit will increase, by 2.7%, to $938 for dates of injury from Oct. 1 through Sept. 30, 2019.

The maximum rate is set at the state average weekly wage, rounded to the nearest dollar. The current rate is $913. The division set the minimum rate at $141, up from $137.

The division also set the discount rate, which is used to calculate lump-sum benefit awards to account for the present value of the money. The rate is set at 6.06% from Oct. 1 to Dec. 31. 

The rate is set at the treasury constant maturity rate for one-year treasury bills as published by the Federal Reserve Board, plus 3.5%.