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ORDER
Pursuant to KRS 342.265(3), upon lump-sum settlement of future periodic payments, the discount rate used in the calculation of the settlement amount shall be fixed by the commissioner. Before January 1 of each year, the commissioner shall fix the discount rate to be used in the succeeding calendar year based at one-half of one percent (0.5%) below the interest rate paid upon ten (10) year United States Treasury Notes as of August 1 of the preceding year. However, upon lump-sum settlement of future periodic payments in weekly amounts that are forty dollars ($40) or less, the commissioner shall fix the discount rate used in the succeeding calendar year based at the interest rate paid upon ten (10) year United States Treasury Notes as of August 1 of the preceding year.
Accordingly, for the calendar year 2023, the discount rate for lump-sum settlements of future periodic payments in weekly amounts that are forty dollars ($40.00) or less, is fixed at two and three fourths percent (2.75%). The discount rate for lump-sum settlements of future periodic payments in weekly amounts greater than forty dollars ($40.00) is fixed at two and one fourth percent (2.25%).
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