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Texas TDI Discount Rate And Interest Rate Announced For April 1, 2008 Through June 30, 2008

26 Mar, 2008 WorkersCompensation.com

                               

Austin, TX  (CompNewsNetwork) - 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, Section 401.023), that any interest or discount provided for in the Act shall be at the rate of 4.82 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 March 17, 2008, (1.32 percent) plus 3.5 percent as required by Section 401.023.  The rate shall be effective April 1, 2008 through June 30, 2008.

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

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