Labor Officials Revamp PEO Regs

By Michael Whiteley, Eastern Bureau ChiefThe New Jersey Department of Labor and Workforce Development has adopted an overhaul of professional employer organization regulations that drops a requirement that PEOs have a net worth of $100,000, requires limited registration of out-of-state PEOS and requires the first-ever registration of employee-leasing "assurance organizations."The regulations, which revise New Jersey Administrative Code Subchapter 24, were required to implement Senate 2164, which Gov. Chris Christie signed into law on Aug. 19, 2011.The rules apply to both employee leasing compa...