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Rosen v. Smith Barney, Inc., A-49-07, (N.J. June 25, 2008)

Articles Discussing Case:

Deferred Compensation Plan Lawful Under State Wage and Hour Law Despite Forfeiture Provision.

Ogletree Deakins • July 03, 2008
Rosen v. Smith Barney, Inc., A-49-07, (N.J. June 25, 2008) — A voluntary deferred compensation plan, in which employees’ contributions from their wages were invested in company stock purchased at a discount, does not violate the State Wage and Hour Law’s restriction on deductions from employees’ wages, despite the fact that the plan provided for a forfeiture of unvested stock interests if the employees terminated their employment during the two year vesting period after the stock purchase.