As previously reported in the Summer 2011 issue of the New Jersey eAuthority, in August of last year Governor Chris Christie signed into law amendments to N.J.S.A. 34:8-67 et seq., New Jersey’s law relating to employee leasing companies or professional employer organizations. The Department of Labor and Workforce Development is now proposing amendments and new rules within N.J.A.C. 12:16-24 in order to implement that law.
For instance, the proposed language would: (1) establish a regulatory framework for the registration of employee leasing company groups and out-of-state employee leasing companies, as well as for the approval of assurance organizations; (2) impose reporting, recordkeeping, and compliance requirements on employee leasing companies and assurance organizations by establishing the manner in which employee leasing company groups and out-of-state employee leasing companies must comply with the registration and financial reporting requirements; and (3) make statutorily mandated changes to the manner in which all employee leasing companies (not just employee leasing company groups and out-of-state employee leasing companies) satisfy the financial reporting requirements.
Note: This article was published in the September 2012 issue of the New Jersey eAuthority.