The Texas Department of Insurance, Division of Workers’ Compensation has determined that any interest or discount provided for in the Texas Labor Code shall be at the rate of 6.38%. The rate is effective July 1, 2022, through Sept. 30, 2022.
The interest/discount rate of 6.38% is an increase from 4.80% for the period of April 1 through June 30. This is the highest quarterly interest/discount rate the DWC has set in at least five years.
The DWC’s website says the rates are 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 the 15th day preceding the first day of the specified quarter, plus 3.5 percent.
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