DWC Sets Second-Quarter Interest Rate at 3.57%

The Texas Division of Workers' Compensation on Friday announced that the interest rate and discount rate for the second quarter of 2021 will be 3.57%, a slight decrease over the first-quarter rate. The revised rate will be in effect between April 1 and June 30. The interest rate and discount rate are used to calculate lump-sum settlements, funding for the Subsequent Injury Fund, interest on accrued benefits and overpayment of some benefits. The DWC adjusts the rate quarterly and by law, it must be equal to the rate for one-year U.S. Treasury bills, plus 3.5%, the agency said. The disco...