NJ A4804

Creates the "New Jersey Workplace Skills Savings Program" allowing employees to open individual savings accounts for job training expenses, with contributions up to $1,000 per calendar year matched dollar-for-dollar by the State.

Eligible expenses include apprenticeship costs, licensing exams and certification fees, retraining programs for unemployed workers, and vocational or community college education related to job training.

Appropriates $25 million from the General Fund to the Department of Labor and Workforce Development to implement the program and provide matching funds.

Account balances are exempt from creditor claims, earn no interest, and participants who withdraw forfeit the State matching portion; penalties apply for nonqualified withdrawals.

Takes effect January 1, 2027, with annual reporting requirements to the Governor and Legislature on program enrollment, deposits, matching funds provided, and training expenses approved.