Have questions about COVID-19?
The NJ Poison Control Center and 211 have partnered with the State to provide information to the public on COVID-19:
Call: 2-1-1 for general information (24/7) or 1-800-962-1253 for medical information (24/7)
Text: NJCOVID to 898-211
Visit covid19.nj.gov or nj.gov/health for additional information
A 529 plan is designed to help save for college. Contributions to such plans are not deductible, but the money grows tax-free while it remains in the plan. If you use the money for qualified educational expenses, the earnings remain tax-free. When you take distributions, any amounts that are used for higher education expenses (as defined under section 529 of the Internal Revenue Code) are excluded from income. A rollover from one account to another is considered a qualified distribution within the meaning of N.J.S.A. 54A:6-25 as long as it meets the requirement in section 529(c)(3)(C)(i) of the Internal Revenue Code.