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Texas DWC Determined Discount And Interest Rates

23 Mar, 2012 WorkersCompensation.com

                               
Austin, TX (WorkersCompensation.com) - The Texas Department of Insurance, Division of Workers' Compensation has determined, pursuant to the authority and direction given under the Texas Workers' Compensation Act (Texas Labor Code, §401.023), that any interest or discount provided for in the Act shall be at the rate of 3. 71%. This rate is computed by using the treasury constant maturity rate for one year treasury bills (0.21%) issued by the United States Government, as published by the Federal Reserve Board on March 16, 2012 (the 15111 day preceding the first day ofthe calendar quarter for which the rate is to be effective), plus 3.5% as required by Texas Labor Code, §401.023. The rate shall be effective April1, 2012 through June 30, 2012. The rate in effect for the previous period of January 1, 2012 through March 31,2012 was 3.61%.

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