New Jersey S1462 modifies the NJBEST program to provide an annual $1,500 savings incentive grant for eligible contributors.

New Jersey S1462 revises the New Jersey Better Educational Savings Trust (NJBEST) Program by changing the one-time $750 matching grant to an annual $1,500 savings incentive grant for certain contributors. This annual grant is available to NJBEST accounts with contributors whose adjusted gross income is between $0 and $75,000. The grant amount is equal to three dollars for every dollar deposited into the account each year, up to a maximum annual grant of $1,500 per account.

New Jersey S1462 modifies the NJBEST program to provide an annual $1,500 savings incentive grant for eligible contributors.

New Jersey S1462 revises the New Jersey Better Educational Savings Trust (NJBEST) Program by changing the one-time $750 matching grant to an annual $1,500 savings incentive grant for certain contributors. This annual grant is available to NJBEST accounts with contributors whose adjusted gross income is between $0 and $75,000. The grant amount is equal to three dollars for every dollar deposited into the account each year, up to a maximum annual grant of $1,500 per account.