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Advisory 93-07

Interest/Discount Rates Applicable to Commission Orders for Income Benefits

Interest. The Act provides for interest on accrued income or death benefits paid pursuant to a Commission order. Art. 8308-4.13.

Discount for present payment. The Act permits the carrier to discount accelerated impairment income benefits, and commuted death benefits paid to the Subsequent Injury Fund. Arts. 8308-4.321 and 8308-2.26

When, as provided by the Act, interest due or discount permitted, it shall be paid at the rate established by the Commission and in effect (See Art. 8308-1.04) on the date the Commission order is signed, compounded annually.

A decision of the Commission's appeals panel relates back to the hearing decision and order under review. Thus, the interest or discount rate to apply when complying with an appeals panel decision is the rate in effect on the date the hearing officer signed the hearing decision and order.

Signed this 28 th day of April, 1993.

Todd K. Brown
Executive Director


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