2009 New Jersey Code
34:15-24 - Payment of whole award in trust

34:15-24.  Payment of whole award in trust
    At any time after the entry of the award, a sum equal to all future installments of compensation may where death or the nature of the injury renders the amount of future payments certain, by leave of court, be paid by the employer to any savings bank, trust company or life insurance company in good standing and authorized, to do business in this state and having an office  in the county in which the award was entered, and such sum, together with all  interest thereon, shall thereafter be held in trust for the employee or the  dependents of the employee, who shall have no further recourse against the  employer.  The payment of such sum by the employer, evidenced by the receipt of  the trustee noted upon the docket of the clerk of the court, shall operate as a  satisfaction of said award as to the employer.  Payments from said fund shall  be made by the trustee in the same amounts and at the same times as are herein  required of the employer until the fund and interest shall be exhausted.  In  the appointment of the trustee, preference shall be given, in the discretion of  the court, to the choice of the employee or the dependents of the deceased  employee.  The expense of administration of such trust shall be fixed by the  court and paid by the employer.

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