Texas DWC Sets Discount and Interest Rate for Q1

The Texas Department of Insurance, Division of Workers’ Compensation has set at 8.46 percent any interest or discount rate provided for in the Texas Workers’ Compensation Act.

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 Dec.15, 2006 (4.96 percent) plus 3.5 percent as required by Section 401.023.

The rate is effective Jan. 1, 2007 through March 31, 2007.

Source: Texas DWC