TWCC Sets Discount Rate and Interest Rate

The Texas Workers’ Compensation Commission reported it has determined, pursuant to the authority and direction given under the Texas Workers’ Compensation Act (Texas Labor Code, Section 401.023), that any interest or discount provided for in the Act shall be at the rate of 6.79 percent, beginning April 1, 2005.

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 March 17, 2005 (3.29 percent) plus 3.5 percent as required by Section 401.023.

The rate is effective April 1 through June 30.