Or. Admin. Code § 839-001-0530

Current through Register Vol. 63, No. 12, December 1, 2024

Section 839-001-0530 - Fund Amount Available for Claim Payment: Prorating Claims When Insufficient Funds are Available

(1) When the amount in the Fund is determined to be insufficient to pay in full all accumulated wage claims determined to be eligible for payment, such wage claims will be prorated.

(2) The computation of prorated amount shall be made according to the following formula:

(a) Amount Available for Payments divided by Total Amount of Eligible Wage Claims = Z

(b) Eligible Amount of Individual Wage Claim times Z = Prorated Amount to be Paid to Wage Claimant

(3) Wage claims paid from the Fund on a prorated basis are limited to prorated amount paid, and no employee will be paid any additional amount on the same wage claim from the Fund.

Or. Admin. Code § 839-001-0530

BL 5-1986, f. 6-20-86, ef. 7-1-86; BL 9-1996, f. & cert. ef. 10-8-96

Stat. Auth.: ORS 652.414(6)

Stats. Implemented: ORS 652.414