A novel interlocking intramedullary rod assembly which allows the surgeon to (i) secure a first bone fragment of a fractured bone (e.g., a distal bone fragment) to the interlocking intramedullary rod assembly in a fixed position, (ii) secure a second bone fragment of the fractured bone (e.g., a proximal bone fragment) to the interlocking intramedullary rod assembly in an adjustable manner, and (iii) thereafter selectively pivot the second bone fragment (e.g., the proximal bone fragment) relative to the first bone fragment (e.g., the distal bone fragment) so as to secure the two bone fragments in position relative to one another with the desired orientation.