DIR Proposes Rules Change Long Sought by Deceased Claimants' Attorney

The Nevada Division of Industrial Relations has scheduled a Sept. 25 hearing on a proposed regulation that would cut the interest rate used to calculate the present value of lump-sum permanent disability benefits, effectively increasing benefit payments to claimants. The legislation requires an annual adjustment to the actuarial annuity table used to calculate lump-sum payments for permanent disability benefits, and mandates that those be tied to the 30-year Treasury Constant Maturity Rate. Under that change, the interest rate used in the present-value calculation would be cut to 3.08% from 6...