TWCC Sets Discount, Interest Rate

The Texas Workers’ Compensation Commission announced it has determined, pursuant to the authority and direction given under the Texas Workers’ Compensation Act, that any interest or discount provided for in the Act shall be at the rate of 6.88 percent.

This rate is 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 June 16, 2005 (3.38 percent) plus 3.5 percent as required by Section 401.023.

The rate shall be effective July 1, 2005 through Sept. 30, 2005.

For more information, call Matt Jung at (512) 804-4568.