Jenkins' Research Tip: Prime Rate for 2016

According to Pa.R.C.P. 238, the calculation of damages for delay is based upon the prime rate in the first edition of the Wall Street Journal for a particular year (see Pa.R.C.P. 238 for more detail on how rate is calculated).  A table listing the date and the prime rate percentage for various years is published in the Addendum to Explanatory Comments in Pa.R.C.P. 238.  The newest addition to this table can be found in 46 Pa.B. 332, which sets out the prime rate with the date of publication of January 4, 2016.  A similar updated chart may be found from the Unified Judicial System of Pennsylvania.