The 2024 workers' compensation payment rates were published in a Rule proposal [ N.J.A.C.12:235-1.6] on 9/5/23 in the NJ Reporter, 55 N.J.R. 1870(a). The rates will increase by 2.9 percent over the present 2023 rates of compensation.
Temporary disability, permanent partial and permanent total disability, and dependency benefits compensation payments will be paid at a maximum of $1,131.00 per week for accidents and injuries occurring in 2024. The 2023 rate is $1,099.00 per week.
The calculation is statutorily [N.J.S.A. 44:15-12(a)] calculated as 75 percent of the State Average Weekly Wage [SAWW] for the year prior. The SAWW utilized for rate calculation in 2024 will be $1,508. The SAWW utilized in 2023 is $1,465.00.
The minimum rate of payments is 20% of the SAWW. The minimum rate will be $301.00 in 2024; in 2023, it is $293.00.
Regulatory law requires the proposal to be published with a minimum 30-day notice period and a minimum 30-day comment period. The comment period closes on November 4, 2023.
….
Jon L. Gelman of Wayne, NJ, is the author of NJ Workers’ Compensation Law (Thomson-Reuters) and co-author of the national treatise Modern Workers’ Compensation Law (Thomson-Reuters). For over five decades, the Law Offices of Jon L Gelman 1.973.696.7900 jon@gelmans.com have represented injured workers and their families who have suffered occupational accidents and illnesses.
Blog: Workers ' Compensation
LinkedIn: JonGelman
LinkedIn Group: Injured Workers Law & Advocacy Group
Author: "Workers' Compensation Law" West-Thomson-Reuters
Mastodon:@gelman@mstdn.social
