Texas Sets Discount, Interest Rate for Oct. 1 – Dec. 31, 2007

The Texas Department of Insurance Division of Workers’ Compensation has determined 7.66 percent to be the rate for any interest or discount provided for in workers’ compensation statute. The rate is effective Oct. 1, 2007, through Dec. 31, 2007.

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 Sept. 14, 2007, (4.16 percent) plus 3.5 percent.

Source: Texas Department of Insurance, www.tdi.state.tx.us