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What happens if I recover funds from a third party as a result of my work injury?

Under the New Jersey Workers’ Compensation Law, the employer or its insurance carrier is entitled to receive a credit for any amount you recover from a third party. The reason for this is to avoid the replication of benefits for the same injury and disability. When the gross amount of the third-party settlement is the same as or greater than the entire award of compensation benefits, the amount of the credit is usually two-thirds of the amount to be paid by the employer minus $750.

When the gross amount of the third-party settlement is less than the entire award of compensation benefits, the credit is usually two-thirds of the gross third-party settlement amount minus $750. In the event that benefits have not been paid, the amount the employer owes you will be decreased by the amount of the credit.

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The highly competent lawyers at Petrillo and Goldberg represent clients with personal injury claims, workers compensation claims, slip-and-fall cases and automobile accident victims. We work for you, and take our job of getting the best possible results for you seriously.