Lump Sum Discount Rate Increasing for 2022

Lump sum discount rates will increase for 2022 settlements, the Kentucky Department of Workers’ Claims announced. State law requires the department’s commissioner to set rates at a half-percent below the interest paid on 10-year U.S. Treasury notes for future benefit payments that would amount to more than $40 a week. For 2022, the rate for those settlements will be 1.25%, up from 0.625% in 2021. For settlements of future benefits that would have been $40 a week or less, the discount rate must equal the rate paid on Treasury notes. For 2022, the discount rate for settlement...