Texas Division of Workers’ Comp Sets Discount Interest Rate
The Texas Department of Insurance, Division of Workers’ Compensation has determined that any interest or discount provided for in the Texas Labor Code shall be at the rate of 6.38%. The rate is effective July 1, 2022, through Sept. 30, 2022.
The interest/discount rate of 6.38% is an increase from 4.80% for the period of April 1 through June 30. This is the highest quarterly interest/discount rate the DWC has set in at least five years.
The DWC’s website says the rates are computed by using the treasury constant maturity rate for one-year treasury bills issued by the United States Government, as published by the Federal Reserve Board on the 15th day preceding the first day of the specified quarter, plus 3.5 percent.
Popular Today
- Server Says Woman Is Responsible for Own Death for Driving Drunk After Wine Tasting
- Florida Regulators Say They Need More Authority to Rein in Slide’s Exec Pay
- US Reversal on Key Climate Finding Spells Uncertainty for Business
- ‘Soft Market Under Stress’ Offers Unique Window of Opportunity for Insurance Buyers