DWC Lowers Discount Rate to 3.57%

The Texas Division of Workers’ Compensation is lowering the interest rate and discount rate for the last quarter of 2021 to 3.57%, down slightly from the third-quarter rate. The new rate will be in effect from Oct. 1 through Dec. 31. 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 qua...