N.J. Admin. Code § 12:61-1.5

Current through Register Vol. 56, No. 23, December 2, 2024

Section 12:61-1.5 - Interest

(a) When the Commissioner makes an award of back pay, he or she may also award interest in the following situations:

1. When an employer has unreasonably delayed compliance with an order of the Commissioner to pay wages owed to an employee;

2. Where an equitable remedy is required in order to recover the loss of the present value of money retained by the employer over an extensive period of time; or

3. Where the Commissioner finds sufficient cause based on the particular case.

(b) Where applicable, interest deemed owed to an employee shall be calculated at the annual rate as set forth in New Jersey Court Rules, 4:42-11.

N.J. Admin. Code § 12:61-1.5

New Rule, R.2001 d.278, effective 8/6/2001.
See: 33 N.J.R. 1850(a), 33 N.J.R. 2676(a).
Former N.J.A.C. 12:61-1.5, Wage settlement agreements, recodified to N.J.A.C. 12:61-1.6.