Discount Rate Climbing to 4.8%

The Texas Division of Workers’ Compensation is increasing the interest and discount rate for the second quarter of the year. The rate will climb to 4.8% for the period of April 1 through June 30, up from 3.77% for the period of Jan. 1 through March 31. The interest rate and discount rate are used to determine funding for the Subsequent Injury Fund, interest on accrued benefits and overpayment of some benefits, and interest on violations. The division adjusts the rate quarterly. By law, it must be equal to the rate for one-year U.S. Treasury bills, plus 3.5%. A chart of...