Annuity Interest Rate Increases to 4.36%

The Nevada Division of Industrial Relations announced an increase in the interest rate to calculate permanent partial disability lump-sum settlements. The division said the interest rate will increase to 4.36% from 3.77%, effective July 1. The new rate will remain in effect through June 30, 2025. The interest rate ensures that lump-sum payments are equal to the amount that would otherwise be paid out over time. Lawmakers in 2017 passed AB 458, setting the rate at the average 30-year U.S. Treasury constant maturity rate for March of each year. The latest actuarial annuity table is here...