DWC Ups Discount Rate to 3.58%

The Texas Division of Workers’ Compensation announced that the interest rate and discount rate for the third quarter of 2021 will be 3.58%, up slightly from the second quarter rate. The new rate will be in effect July 1 through Sept. 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 discount rate for the first...