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Texas Division Of Workers’ Compensation Discount Rate And Interest Rate Determined For Next Quarter

01 Jul, 2008 WorkersCompensation.com

                               

Austin, TX (CompNewsNetwork) - The Texas Department of Insurance, Division of Workers' Compensation has announced, 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 6.18 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, 2008, (2.68 percent) plus 3.5 percent as required by Section 401.023.  The rate shall be effective July 1, 2008 through September 30, 2008.

For more information regarding the rate calculation, please call Matt Jung at 512-322-4322.

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