Texas Work Comp Discount Or Interest Rate Determined For 10/01/2008 – 12/31/2008


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 5.22 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 September 16, 2008, (1.72 percent) plus 3.5 percent as required by Section 401.023.  The rate shall be effective October 1, 2008 through December 31, 2008.

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

Issued in Austin, Texas on September 22, 2008.
Rod Bordelon, Commissioner of Workers' Compensation

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