Discount and Interest Rates Increased 1.91%

The Texas Department of Insurance’s Division of Workers’ Compensation has set the discount and interest rates under the Workers’ Compensation Act for the final quarter of 2017 at 4.8%, up from the current rate of 4.71%, an increase of 1.91%. DWC Commissioner Ryan Brannan announced the rate change in a Saturday memorandum. The rate was calculated using a formula spelled out in the Texas Labor Code that requires the DWC to take the constant maturity rate for one-year treasury bills into account, plus 3.5%. The Federal Reserve Board indicated on Sept. 16 that the con...