When a settlement is awarded to a plaintiff do the funds gain interest? I sued a city in New Jersey. We settled in September 2015, the funds were held then transferred from the city's private attorney's trust fund to me on Feb 15 2016. Is it standard practice to hold funds in an interest bearing account? There was no post settlement litigation or appeal, settled out of court. Who gets the interest?
If this is a judgement of the court then you get interest from the date the debt was due to the date of the judgement at the pre-judgement rate and from the date of the judgement until it is paid at the post-judgement rate, which happen to be the same 0.25% + 2% per annum simple interest.
If this is a private agreement (i.e. not a judgement debt) then you get whatever you agreed about interest.