New Jersey Workplace Skills Savings Program enables workers to invest in job training with state matching funds.

The bill creates the "New Jersey Workplace Skills Savings Program" to allow workers to invest in job training. Residents or employees of businesses in the State can set up an individual savings account for job training, license fees, or other career development activities. Enrollees can deposit up to $1,000 annually, with the State matching contributions dollar-for-dollar. The Department of Labor and Workforce Development will administer the program, while the Department of the Treasury will manage the trust fund and individual savings accounts.

New Jersey Workplace Skills Savings Program enables workers to invest in job training with state matching funds.

The bill creates the "New Jersey Workplace Skills Savings Program" to allow workers to invest in job training. Residents or employees of businesses in the State can set up an individual savings account for job training, license fees, or other career development activities. Enrollees can deposit up to $1,000 annually, with the State matching contributions dollar-for-dollar. The Department of Labor and Workforce Development will administer the program, while the Department of the Treasury will manage the trust fund and individual savings accounts.