DIR Updates Lump-Sum Annuity Table

The Nevada Division of Industrial Relations adjusted its actuarial annuity table used to calculate lump-sum payments for permanent disability benefits in a move that will effectively increase payments to injured workers. The new table that went into effect Monday reduces to 3.08%, from 6%, the interest rate used in calculations to determine that the sum paid now is equal to the amount of money that would otherwise be paid over time, assuming the lump sum payment is invested conservatively. Lawmakers this year passed Assembly Bill 458 requiring the division modify the interest rate each year ...