New Jersey S4667 excludes from gross income tax certain student loan matching contributions made by employers to defined contribution plans.
New Jersey S4667 excludes from gross income tax certain student loan matching contributions made by employers to eligible defined contribution plans. Eligible defined contribution plans include 403(b) accounts, SIMPLE IRA accounts, and 457(b) accounts. The bill defines an "eligible student loan matching contribution" as a contribution made by an employer to an employee's eligible defined contribution plan based on the employee's qualified student loan payments.
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