The most common reason for menopause is the natural decline in a female's reproductive hormones. However, menopause can also result from the following situations:
Oophorectomy: This surgery, which removes a woman's ovaries, causes immediate menopause. Symptoms and signs of menopause in this situation can be severe, as the hormonal changes happen abruptly.
Chemotherapy: Cancer treatments like chemotherapy can induce menopause quickly, causing symptoms to appear shortly after or even during treatment.
Ovarian Insufficiency: Also called premature ovarian failure, this condition is essentially premature menopause. It happens when a woman's ovaries quit functioning before the age of 40 and can stem from genetic factors and disease. Only 1% of women suffer from premature menopause, but HRT can help protect the heart, brain, and bones.
If you're a woman going through menopause and find that you have become increasingly depressed, you're not alone. It's estimated that 15% of women experience depression to some degree while going through menopause. What many women don't know is that depression can start during perimenopause, or the years leading up to menopause.
Depression can be hard to diagnose, especially during perimenopause and menopause. However, if you notice the following signs, it might be time to speak with a physician:
Remember, if you're experiencing depression, you're not weak or broken - you're going through a very regular emotional experience. The good news is that with proper treatment from your doctor, depression isn't a death sentence. And with HRT and anti-aging treatment for women, depression could be the catalyst you need to enjoy a new lease on life.
Hot flashes - they're one of the most well-known symptoms of menopause. Hot flashes are intense, sudden feelings of heat across a woman's upper body. Some last second, while others last minutes, making them incredibly inconvenient and uncomfortable for most women.
Symptoms of hot flashes include:
Typically, hot flashes are caused by a lack of estrogen. Low estrogen levels negatively affect a woman's hypothalamus, the part of the brain that controls body temperature and appetite. Low estrogen levels cause the hypothalamus to incorrectly assume the body is too hot, dilating blood vessels to increase blood flow. Luckily, most women don't have to settle for the uncomfortable feelings that hot flashes cause. HRT treatments for women often stabilize hormones, lessening the effects of hot flashes and menopause in general.
Mood swings are common occurrences for most people - quick shifts from happy to angry and back again, triggered by a specific event. And while many people experience mood swings, they are particularly common for women going through menopause. That's because, during menopause, the female's hormones are often imbalanced. Hormone imbalances and mood swings go hand-in-hand, resulting in frequent mood changes and even symptoms like insomnia.
The rate of production of estrogen, a hormone that fluctuates during menopause, largely determines the rate of production the hormone serotonin, which regulates mood, causing mood swings.
Luckily, HRT and anti-aging treatments in Peapack, NJ for women work wonders for mood swings by regulating hormone levels like estrogen. With normal hormone levels, women around the world are now learning that they don't have to settle for mood swings during menopause.
Staying fit and healthy is hard for anyone living in modern America. However, for women with hormone imbalances during perimenopause or menopause, weight gain is even more serious. Luckily, HRT treatments for women coupled with a physician-led diet can help keep weight in check. But which hormones need to be regulated?
Lowered sexual desire - three words most men and women hate to hear. Unfortunately, for many women in perimenopausal and menopausal states, it's just a reality of life. Thankfully, today, HRT and anti-aging treatments Peapack, NJ can help women maintain a normal, healthy sex drive. But what causes low libido in women, especially as they get older?
The hormones responsible for low libido in women are progesterone, estrogen, and testosterone.
Progesterone production decreases during perimenopause, causing low sex drive in women. Lower progesterone production can also cause chronic fatigue, weight gain, and other symptoms. On the other hand, lower estrogen levels during menopause lead to vaginal dryness and even vaginal atrophy or loss of muscle tension.
Lastly, testosterone plays a role in lowered libido. And while testosterone is often grouped as a male hormone, it contributes to important health and regulatory functionality in women. A woman's testosterone serves to heighten sexual responses and enhances orgasms. When the ovaries are unable to produce sufficient levels of testosterone, it often results in a lowered sex drive.
Often uncomfortable and even painful, vaginal dryness is a serious problem for sexually active women. However, like hair loss in males, vaginal dryness is very common - almost 50% of women suffer from it during menopause.
Getting older is just a part of life, but that doesn't mean you have to settle for the side effects. HRT and anti-aging treatments for women correct vaginal dryness by re-balancing estrogen, progesterone, and testosterone. When supplemented with diet and healthy living, your vagina's secretions are normalized, causing discomfort to recede.
Uterine fibroids - they're perhaps the least-known symptom of menopause and hormone imbalances in women. That's because these growths on the uterus are often symptom-free. Unfortunately, these growths can be cancerous, presenting a danger for women as they age.
Many women will have fibroids at some point. Because they're symptomless, they're usually found during routine doctor exams. Some women only get one or two, while others may have large clusters of fibroids. Because fibroids are usually caused by hormone imbalances, hysterectomies have been used as a solution, forcing women into early menopause.
Advances in HRT and anti-aging medicine for women give females a safer, non-surgical option without having to experience menopause early. At Global Life Rejuvenation, our expert physicians will implement a customized HRT program to stabilize your hormones and reduce the risk of cancerous fibroid growth.
Endometriosis symptoms are much like the effects of PMS, and include pelvic pain, fatigue, cramping, and bloating. While doctors aren't entirely sure what causes this painful, uncomfortable condition, most agree that hormones - particularly xenoestrogens - play a factor.
Endometriosis symptoms are much like the effects of PMS and include pelvic pain, fatigue, cramping, and bloating. While doctors aren't entirely sure what causes this painful, uncomfortable condition, most agree that hormones - particularly xenoestrogens - play a factor.
Xenoestrogen is a hormone that is very similar to estrogen. Too much xenoestrogen is thought to stimulate endometrial tissue growth. HRT for women helps balance these hormones and, when used with a custom nutrition program, can provide relief for women across the U.S.
Sermorelin is a synthetic hormone peptide, like GHRH, which triggers the release of growth hormones. When used under the care of a qualified physician, Sermorelin can help you lose weight, increase your energy levels, and help you feel much younger.
Human growth hormone (HGH) therapy has been used for years to treat hormone deficiencies. Unlike HGH, which directly replaces declining human growth hormone levels, Sermorelin addresses the underlying cause of decreased HGH, stimulating the pituitary gland naturally. This approach keeps the mechanisms of growth hormone production active.
Ipamorelin helps to release growth hormones in a person's body by mimicking a peptide called ghrelin. Ghrelin is one of three hormones which work together to regulate the growth hormone levels released by the pituitary gland. Because Ipamorelin stimulates the body to produce growth hormone, your body won't stop its natural growth hormone production, which occurs with synthetic HGH.
Ipamorelin causes growth hormone secretion that resembles natural release patterns rather than being constantly elevated from HGH. Because ipamorelin stimulates the natural production of growth hormone, our patients can use this treatment long-term with fewer health risks.
One of the biggest benefits of Ipamorelin is that it provides significant short and long-term benefits in age management therapies. Ipamorelin can boost a patient's overall health, wellbeing, and outlook on life.
When growth hormone is produced by the pituitary gland using Ipamorelin, clients report amazing benefits. Some of those benefits include:
Whether you are considering our HRT and anti-aging treatments for women in Peapack, NJ, we are here to help. The first step to reclaiming your life begins by contacting Global Life Rejuvenation. Our friendly, knowledgeable HRT experts can help answer your questions and walk you through our procedures. From there, we'll figure out which treatments are right for you. Before you know it, you'll be well on your way to looking and feeling better than you have in years!973-587-8638
PEAPACK, N.J.--(BUSINESS WIRE)--Komline-Sanderson, a designer and manufacturer of equipment for product filtration, thermal processing, wastewater management, and other industrial applications, announced today the acquisition of the Wyssmont Company, a designer and manufacturer of thermal drying products for the chemical, pharmaceutical, mineral, and food industries. The investment closed on May 25, 2022.“The TURBO-DRYER® is a ...
PEAPACK, N.J.--(BUSINESS WIRE)--Komline-Sanderson, a designer and manufacturer of equipment for product filtration, thermal processing, wastewater management, and other industrial applications, announced today the acquisition of the Wyssmont Company, a designer and manufacturer of thermal drying products for the chemical, pharmaceutical, mineral, and food industries. The investment closed on May 25, 2022.
“The TURBO-DRYER® is a best-in-class system that will be a welcome addition to our product line for many customers. Based in Fort Lee, New Jersey, Wyssmont is ideally situated near Komline’s headquarters in Peapack, simplifying the integration of the company into Komline’s operations.”Tweet this
The strategic acquisition will add Wyssmont’s flagship product, the TURBO-DRYER®, to Komline’s product line. The TURBO-DRYER® is used worldwide in virtually every industry that requires drying of wet materials, from organic chemicals to silver powder to food products. The technologically advanced system’s thermal process can continuously dry solvent wet materials while maintaining the integrity of the underlying particles and can recover the evaporated solvent without requiring a vacuum system.
“We are delighted to bring Wyssmont’s quality products, hardworking team members, and valued customers into the Komline family,” said Komline’s Chief Executive Officer, Danai Brooks. “The TURBO-DRYER® is a best-in-class system that will be a welcome addition to our product line for many customers. Based in Fort Lee, New Jersey, Wyssmont is ideally situated near Komline’s headquarters in Peapack, simplifying the integration of the company into Komline’s operations.”
The acquisition was Komline’s sixth since March of 2021 and is part of a multi-faceted expansion that has significantly extended the company’s product and service offerings, manufacturing capacity, and geographic reach. Previously, Komline acquired Illinois-based Barnes International, a manufacturer of coolant filtration equipment; Florida-based Harn R/O Systems, a producer of reverse osmosis, nanofiltration, and low-pressure membrane treatment systems; South Carolina-based Haselden Company, Inc., an engineering design and installation business of waste-reduction systems serving the food and beverage industry; Tennessee-based AquaShield, Inc., a provider of products for stormwater runoff, rainwater harvesting, and construction site discharges; and Ohio-based Fluid Quip, Inc., a manufacturer of capital equipment for the corn wet-milling and ethanol industries.
“We are so pleased to be joining the Komline team, given our longstanding relationship with the company and the many synergies in our businesses,” said Wyssmont President Joseph Bevacqua. “We know our customers will be well-served by Komline’s outstanding products, services, and team, and we are delighted to be part of a full-service company with facilities across the U.S. serving customers around the world.”
Since its incorporation in 1946, Komline-Sanderson Corporation has provided the highest quality equipment for applications including process/production filtration, drying, thermal processing, wastewater treatment, sludge processing, and environmental control. The company, headquartered in Peapack, New Jersey, solves industrial processing, wastewater, and flue gas cleaning challenges for industrial and municipal customers around the world. Visit komline.com for more information.
About Wyssmont Company
Founded in 1932 and based in Fort Lee, New Jersey, Wyssmont designs, manufactures, and services its TURBO-DRYER® worldwide to the chemical, specialty chemical, pharmaceutical, mineral, food, and food additives industries. The company also manufactures continuous tray dryers, crossflows, feeders, lump-breakers, solvent recovery dryers, multi-stages, laboratories, and calciner. Visit wyssmont.com for more information.
While New Jersey's government has done nothing to offer drivers a break as gas prices head toward $5 a gallon, New York State is kicking off it's Gas Tax Holiday.As part of the state budget, New York is suspending a 16-cent gas tax from June 1 through the end of the year.Is it worth it to drive across the border to fill-up? Maybe.It certainly wont make gas any cheaper if you try to fill up in Manhattan, where the average price is already $5.40 a gallon. You'll want to avoid Staten Island and Long Island as well, where av...
While New Jersey's government has done nothing to offer drivers a break as gas prices head toward $5 a gallon, New York State is kicking off it's Gas Tax Holiday.
As part of the state budget, New York is suspending a 16-cent gas tax from June 1 through the end of the year.
Is it worth it to drive across the border to fill-up? Maybe.
It certainly wont make gas any cheaper if you try to fill up in Manhattan, where the average price is already $5.40 a gallon. You'll want to avoid Staten Island and Long Island as well, where average prices are around $5 per gallon.
However, if you take the Garden State Parkway or Route 287 across our state's northern border into Rockland County, NY, you might find a bargain.
A little farther North, and you can cross into Orange County, NY, where gas prices could drop below $4.75 a gallon.
However, when you factor in how much gas it takes to get there and back, your actual savings could be miniscule.
There is, however, a bit of cross border jealously when you consider how much New Jersey drivers could save if we followed New York's lead.
Sen. Shirley Turner, D-Mercer, sponsors legislation that would give drivers a 60-day gas tax holiday in New Jersey. Her proposal would drop the state's gas tax 27.9-cents from 42.4-cents to 14.5-cents.
If Turner's legislation was signed into law, it would drop our current gas prices below $4.50 per gallon.
Gov. Phil Murphy does not support the legislation, and says any gas tax holiday should come from the federal government.
Of the multiple proposals being floated by lawmakers for gas price relief, Murphy has expressed public support for only one.
Sen. Edward Durr, R-Gloucester, would provide residents direct rebates of between $250 and $500.
Murphy called Durr's proposal "worthy of debate" when he was asked about it in March.
None of the current proposals have be scheduled for action in the Senate or Assembly.
On Wednesday, AAA reported the average price for gas in New Jersey was $4.77 for a gallon of regular. That matches the record high set May 20.
A little less than 30 cents of every $1 in property taxes charged in New Jersey support municipal services provided by cities, towns, townships, boroughs and villages. Statewide, the average municipal-only tax bill in 2021 was $2,725, but that varied widely from more than $13,000 in Tavistock to nothing in three townships. In addition to $9.22 billion in municipal purpose taxes, special taxing districts that in some places provide municipal services such as fire protection, garbage collection or economic development levied $323.8 million in 2021.
Gallery Credit: Michael Symons
Municipality | County | Average Municipal Tax Bill | Share of Property Tax Bill | Municipal Tax Levy | Special Taxing Districts (if applicable)
Tavistock | Camden | $13,182 | 42.9% | $131,563
Allenhurst | Monmouth | $9,033 | 53.4% | $2,842,245
Deal | Monmouth | $8,824 | 44.7% | $8,034,955
Orange | Essex | $7,677 | 73.8% | $55,663,138
Mantoloking | Ocean | $7,560 | 39.2% | $4,137,248
Saddle River | Bergen | $7,143 | 38.2% | $9,678,482
Elizabeth | Union | $6,419 | 62.0% | $172,688,087 | $475,000
East Orange | Essex | $6,400 | 69.3% | $93,248,992
Passaic | Passaic | $6,169 | 60.1% | $66,523,222
Englewood Cliffs | Bergen | $6,124 | 41.3% | $16,348,525
Millburn | Essex | $6,084 | 24.8% | $46,789,178
Irvington | Essex | $6,049 | 71.4% | $78,599,287 | $455,893
Englewood | Bergen | $6,048 | 44.8% | $58,156,397
Far Hills | Somerset | $5,981 | 41.3% | $2,321,047
Union City | Hudson | $5,914 | 70.3% | $79,815,472
Cresskill | Bergen | $5,659 | 32.1% | $17,163,359
Plainfield | Union | $5,311 | 58.8% | $59,058,985 | $161,323
Rockleigh | Bergen | $5,293 | 41.4% | $730,477
Interlaken | Monmouth | $5,291 | 58.3% | $2,104,648
Tenafly | Bergen | $5,285 | 24.1% | $25,765,243
Montclair | Essex | $5,258 | 25.9% | $59,374,242 | $665,760
Paterson | Passaic | $5,250 | 59.5% | $163,056,241
Harrison | Hudson | $5,211 | 51.5% | $17,890,904
Roselle | Union | $5,147 | 50.0% | $33,615,642
Ho-Ho-Kus | Bergen | $5,137 | 29.6% | $7,824,596
Haworth | Bergen | $5,104 | 27.5% | $6,570,619
Essex Fells | Essex | $5,092 | 25.0% | $4,113,095
Belleville | Essex | $5,079 | 48.3% | $56,964,078
Alpine | Bergen | $5,039 | 23.5% | $3,632,602
Fort Lee | Bergen | $5,029 | 43.8% | $71,144,415
Municipality | County | Average Municipal Tax Bill | Share of Property Tax Bill | Municipal Tax Levy | Special Taxing Districts (if applicable)
Chester Borough | Morris | $4,946 | 35.6% | $3,924,821
Glen Ridge | Essex | $4,915 | 22.7% | $12,612,941
Demarest | Bergen | $4,910 | 22.3% | $8,407,863
Rumson | Monmouth | $4,897 | 22.7% | $13,023,718
Watchung | Somerset | $4,804 | 30.7% | $12,073,560
Oradell | Bergen | $4,708 | 29.7% | $14,219,649
Maplewood | Essex | $4,658 | 27.2% | $35,974,280 | $220,239
Guttenberg | Hudson | $4,606 | 47.6% | $14,470,121
Loch Arbour | Monmouth | $4,603 | 40.3% | $642,573
Ridgewood | Bergen | $4,579 | 24.1% | $38,023,247
Fairview | Bergen | $4,564 | 44.7% | $16,062,813
Bayonne | Hudson | $4,529 | 43.3% | $85,318,961
Peapack-Gladstone | Somerset | $4,483 | 31.8% | $4,488,881
Weehawken | Hudson | $4,444 | 43.6% | $31,591,104 | $2,494,458
South Hackensack Township | Bergen | $4,439 | 43.5% | $8,079,385
Sea Girt | Monmouth | $4,421 | 33.8% | $5,687,968
Mountain Lakes | Morris | $4,391 | 20.1% | $6,862,371
Perth Amboy | Middlesex | $4,305 | 59.5% | $59,832,757 | $223,846
Princeton | Mercer | $4,291 | 20.9% | $36,777,578
Teaneck | Bergen | $4,276 | 33.9% | $57,275,422 | $167,196
Allendale | Bergen | $4,217 | 26.0% | $11,004,107
Closter | Bergen | $4,190 | 25.2% | $13,086,417
Leonia | Bergen | $4,188 | 29.9% | $11,889,278
Spring Lake | Monmouth | $4,167 | 31.4% | $8,494,316 | $70,098
Harding Township | Morris | $4,164 | 29.0% | $6,777,527
Bloomfield | Essex | $4,156 | 37.6% | $62,476,525 | $355,752
Longport | Atlantic | $4,126 | 37.1% | $6,820,536
Nutley | Essex | $4,121 | 33.4% | $41,744,711
Wood-Ridge | Bergen | $4,103 | 39.4% | $15,616,280
Bernardsville | Somerset | $4,083 | 25.1% | $11,836,737
Hackensack | Bergen | $4,063 | 46.3% | $86,686,643 | $463,291
Long Branch | Monmouth | $4,040 | 40.2% | $43,518,975
Mendham Township | Morris | $4,037 | 20.4% | $8,378,960
Norwood | Bergen | $4,036 | 28.3% | $8,823,394
Ridgefield Park | Bergen | $4,029 | 36.5% | $18,047,799
Hillside | Union | $4,014 | 41.6% | $29,586,995
Municipality | County | Average Municipal Tax Bill | Share of Property Tax Bill | Municipal Tax Levy | Special Taxing Districts (if applicable)
Summit | Union | $3,982 | 21.8% | $30,144,083 | $267,878
Rutherford | Bergen | $3,978 | 31.4% | $25,033,004
Edgewater | Bergen | $3,965 | 36.7% | $24,709,738
Woodcliff Lake | Bergen | $3,958 | 23.6% | $10,777,342
Haledon | Passaic | $3,944 | 34.8% | $8,667,007
Prospect Park | Passaic | $3,897 | 34.0% | $4,833,929
Lyndhurst | Bergen | $3,873 | 40.4% | $33,279,744
Morristown | Morris | $3,872 | 37.8% | $24,938,987 | $637,182
Dumont | Bergen | $3,837 | 32.3% | $21,076,676
Springfield | Union | $3,834 | 31.6% | $26,421,175 | $281,467
Bergenfield | Bergen | $3,794 | 34.5% | $31,022,970
Morris Plains | Morris | $3,749 | 34.8% | $11,728,725
Avon-by-the-Sea | Monmouth | $3,733 | 35.1% | $4,020,258
Emerson | Bergen | $3,727 | 28.3% | $10,159,101
Newark | Essex | $3,662 | 53.8% | $248,965,722 | $7,187,722
Moonachie | Bergen | $3,661 | 43.6% | $8,933,937
Rahway | Union | $3,642 | 39.1% | $39,134,510 | $325,000
Paramus | Bergen | $3,641 | 34.4% | $56,768,026
Garwood | Union | $3,585 | 34.9% | $6,600,921
Margate | Atlantic | $3,563 | 42.1% | $24,853,051
Garfield | Bergen | $3,558 | 41.3% | $26,844,651
Keansburg | Monmouth | $3,541 | 61.8% | $12,340,578
Northvale | Bergen | $3,513 | 29.1% | $7,625,938
Ventnor | Atlantic | $3,476 | 43.9% | $23,446,412
Westwood | Bergen | $3,373 | 30.3% | $15,529,929
Montvale | Bergen | $3,267 | 25.3% | $12,913,803
Matawan | Monmouth | $2,999 | 30.1% | $9,722,229
Longport Borough | $4,126 | 37.1% | $6,820,536
Willingboro Township | $2,878 | 45.5% | $34,180,383
Tavistock Borough | $13,182 | 42.9% | $131,563
Bridgeton City | $2,057 | 57.5% | $13,929,773
Orange City | $7,677 | 73.8% | $55,663,138
Woodbury City | $2,337 | 34.3% | $9,694,626
Clinton Town | $2,987 | 26.3% | $3,459,859
Princeton | $4,291 | 20.9% | $36,777,578
Allenhurst Borough | $9,033 | 53.4% | $2,842,245
Chester Borough | $4,946 | 35.6% | $3,924,821
Mantoloking Borough | $7,560 | 39.2% | $4,137,248
Passaic City | $6,169 | 60.1% | $66,523,222
The state Department of Education announced district-level school aid figures for the 2022-23 school year on Thursday, March 10, 2022. They're listed below, alphabetically by county. For additional details from the NJDOE, including specific categories of aid, click here.
Absecon City | 5,754,693 | 1,258,009 | 28.0%
Avalon Boro | 56,107 | -1,789 | -3.1%
Bridgeton City | 117,081,802 | 10,403,488 | 9.8%
Belleville Town | 43,951,378 | 8,498,463 | 24.0%
Clayton Boro | 16,488,597 | 2,298,073 | 16.2%
Bayonne City | 92,277,342 | 12,173,015 | 15.2%
Alexandria Twp | 1,065,389 | -105,575 | -9.0%
Carteret Boro | 43,833,799 | 5,507,951 | 14.4%
Allenhurst | 30,551 | -1,941 | -6.0%
Bloomingdale Boro | 1,275,115 | -176,019 | -12.1%
Alloway Twp | 3,017,949 | -234,891 | -7.2%
Andover Reg | 1,365,702 | -231,633 | -14.5%
PeapackBoonton’s live Christmas tree sale was held at Peapack-Gladstone Bank’s new retail location at 104 Ely Place, BoontonBedminster, NJ, Dec. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- This holiday season Peapack-Gladstone Bank announced the...
Bedminster, NJ, Dec. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- This holiday season Peapack-Gladstone Bank announced the return of the nostalgic annual Boonton Christmas Tree Sale. The inaugural event was reminiscent of past sales sponsored by the local Kiwanis Club. Held November 26 to December 5, the live tree sale was orchestrated entirely by Peapack-Gladstone Bank volunteers who teamed up, helping families find their perfect tree. Offering a wide variety of species and selling more than 250 trees, one hundred percent of this year’s sales and donations totaling $27,750 will benefit nourish.NJ in Morristown, supporting their efforts to alleviate the struggles of homelessness and hunger in our municipalities.
The sale was held at the Bank’s newest retail location at 104 Ely Place, Boonton. “Peapack-Gladstone Bank knows how important a Christmas tree is to a family’s holiday tradition, so we decided to start the sale the day after Thanksgiving,” said Robert Plante, Executive Vice President and COO at Peapack-Gladstone Bank, “but we never expected to run out so quickly. The Bank planned this festive event to bring back an old-fashioned quality to the community, and we were excited to see the large number of families that came out to enjoy the festivities and select a tree to support a local charity.”
This year’s Boonton Christmas tree sale was the first in the return of this annual holiday tradition, where each year, a new community beneficiary will be named. Founded in 1921 and celebrating its 100th Anniversary, Peapack-Gladstone Bank values its ties with community. “The Boonton Christmas Tree Sale will be a place where families can make long lasting memories,” said Daniela Oldham, Vice President, Retail Private Banker at the Bank’s Boonton location. “The Bank is committed to making a difference in our municipalities both now and for many Christmases to come.”
Peapack-Gladstone Financial Corporation is a NJ bank holding company with total assets of $6.2 billion and assets under management/administration of $10.3 billion as of September 30, 2021. Peapack-Gladstone Bank is a commercial bank that provides innovative wealth management, investment banking, commercial and retail solutions, including residential lending and online platforms, to businesses and consumers. Peapack Private, the Bank’s wealth management division, offers comprehensive financial, tax, fiduciary and investment advice, and solutions, to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them establish, maintain and expand their legacy. Together, Peapack-Gladstone Bank and Peapack Private offer an unparalleled commitment to client service. Visit and for more information.
EDITOR’S NOTE: On January 24, NJ.com hosts EmpowerU Money: New Year’s Resolutions— a FREE virtual live event. Learn the latest tips on budgeting and saving to meet your goals in 2022! Spots are limited. Register ...
EDITOR’S NOTE: On January 24, NJ.com hosts EmpowerU Money: New Year’s Resolutions— a FREE virtual live event. Learn the latest tips on budgeting and saving to meet your goals in 2022! Spots are limited. Register here.
Financial planners agree that a 529 plan is usually the most advantageous way to save for a college education.
Funds in the account grow tax-free — just like an IRA — and they stay free of tax as long as you use the money for qualified education expenses, such as tuition, room and board and supplies.
In 2022, New Jersey’s plan, NJBEST, joins the majority of states that offer residents an income tax deduction or credit for contributions to the state plan. NJBEST had previously been criticized for not offering a tax benefit as one of the perks of investing.
Now, New Jersey taxpayers with gross income of $200,000 or less can qualify for a state income tax deduction of up to $10,000 per taxpayer for contributions to the plan. That’s a deduction of up to $20,000 for a married couple filing a joint tax return.
It offers a few other benefits. Starting in 2021, savers with household income of under $75,000 were able to get a one-time $750 matching grant for initial deposits on new accounts. Plus, students with accounts who attend a New Jersey college or university can receive a tax-free scholarship of up to $3,000.
While the new tax break is welcome news, some advisers say it isn’t enough to put NJBEST on their recommended list because of higher-than-average fees and limited investment selections.
“Changes enacted for 2022 will certainly help improve the NJBEST 529 plan, which is only rated as neutral by Morningstar,” said Dawn Brown, a certified financial planner with Peapack Private Wealth Management in New Providence. “The neutral rating is an upgrade from 2019 when it was rated negative – in other words, do not invest.”
Brown said NJBEST is still more expensive than other states’ plans.
“NJBEST direct plan fees range between 0.14% and 0.81%, with fees up to 2.21% for the advisor-sold plan,” she said, noting that the plan’s investment choices are more limited than other plans. “A wider selection could help reduce the fees in the plan.”
William Vaughan, a certified financial planner with RegentAtlantic in Morristown, said the high fees and limited investment selection have led his firm to recommend their clients not use the plan.
He said he’s not a fan of the plan’s “opaque, actively-managed Franklin Templeton funds,” while the expenses “leave something to be desired.”
NJBEST doesn’t see it that way, saying its plan is competitive with others on the market.
Spokeswoman Jennifer Azzarano said the NJBEST plan fees are in line with those of similar direct-sold 529 programs offered in other states, pointing to this table as a comparison.
But SavingForCollege.com, a 529 plan resource, compared the fees of all direct-sold (not adviser-sold) state plans in September 2021 for an account with a $10,000 balance over 10 years. It used each plan’s most expensive investment option for the comparison.
It found the Michigan plan would cost $160, Utah would cost $631 and New Jersey would cost $1,013.
In response to the data, Azzarano said less than 1% of NJBEST account holders have selected the highest-priced investment option cited in the study.
Azzarano also said residents who invest elsewhere would not be eligible for some the plan-specific benefits.
“Investments in other states’ 529 plans are not eligible for either the dollar-for-dollar state grant to match up to $750 of the initial contribution to a new NJBEST account, nor the state income tax deduction for up to $10,000 in annual contributions to an NJBEST account,” she said.
That’s not enough to win over some advisers.
Vaughan said he recommends the Michigan 529 plan because it has an all-in cost ranging from 0.065% to 0.105% annually.
“That’s about one-fifth the expense of the NJBEST plan,” Vaughan said, noting that Michigan’s plan uses index funds and builds its aged-based allocations in a more diversified manner than NJBEST. “We also like the Utah 529 plan because it has similarly low-cost, index-based, diversified portfolios.”
He said the Utah plan also has an “attractive” fixed interest option for students who need principal protection as they get closer to freshman year.
Brown said she likes the Michigan plan because of its low fees and wider investment selection.
“Though the fund is managed by TIAA-CREF, it includes investments from Vanguard, iShares and Schwab. Morningstar rates it a Gold plan,” she said.
There is a way to take advantage of the new tax break without marrying yourself to NJBEST for all of your college saving years.
“For our clients that meet the income limits, we are advising them to make initial contributions to the New Jersey 529 plan to take advantage of the tax deduction and roll over the balance to other 529 plans that have lower costs,” Vaughan said.
For a side-by-side comparison of different state 529 plans, try SavingForCollege.com’s comparison tool.
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Q. I am about to sell my home in New Jersey and I’m moving to another state, where I will rent. I expect a profit of $400,000 on the sale of my primary residence. Will I have to pay 8.97% on that profit? That would be over $38,000.— Seller, soonA. Congratulations on the impending sale of your home.What you’re asking about is the so-called exit tax, which is an estimated tax payme...
Q. I am about to sell my home in New Jersey and I’m moving to another state, where I will rent. I expect a profit of $400,000 on the sale of my primary residence. Will I have to pay 8.97% on that profit? That would be over $38,000.
— Seller, soon
A. Congratulations on the impending sale of your home.
What you’re asking about is the so-called exit tax, which is an estimated tax payment required for some home sales.
You didn’t say if you were single or married.
Federal law allows an exclusion of gain on the sale of your principal residence of $250,000 if you are single and $500,000 if you are married, said Laurie Wolfe, a certified financial planner and certified public accountant with Peapack Private Wealth Management in New Providence.
She said New Jersey law follows this federal rule with respect to principal residences.
To qualify for the exclusion, you must meet a few tests.
The eligibility tests for exclusion of gain on your home are as follows:
1. You must not have acquired the home through a like-kind exchange.
2. You must not be subject to the expatriate tax.
3. You must have owned the home for at least 24 months in the five years leading up to the sale date.
4. You must have lived in your home for at least 24 months in the five years leading up to the sale date.
5. You must not have excluded a gain on a different home within the prior two years from the sale date.
If you meet all these tests and you are married, the $400,000 is not taxable for federal or state purposes, Wolfe said. If you are single, $150,000 ($400,000-250,000) will be taxed to you by New Jersey at your marginal tax rate, she said.
Your marginal rate is the tax bracket you are in for New Jersey tax purposes.
“As a single person if your taxable income is between $75,000 and $500,000, your marginal rate is 6.37%,” she said. “After that, and up to $5million of taxable income, your rate would be at the 8.97% you mention.”
This tax is calculated when you file your return for the year of sale, she said.
The exit tax is not the tax we’ve just described.
Rather, it is a withholding tax that New Jersey requires at the closing of a real estate transfer when a New Jersey resident is leaving the state, Wolfe said.
“They want to make sure you file a tax return and calculate any tax due. In other words, they don’t want you to skip town,” she said. “When you file the return, if your actual tax is less than the withholding tax, you will receive the difference as a refund.”
There is a way to claim exemption from this withholding.
The frequently asked questions section about gross income tax on real property transfers on the Division of Taxation’s website says that if you qualify for the gain exclusion, you can be exempt from this withholding tax, Wolfe said.
“The FAQs further state that the entire gain must be excluded from gross income. In your case, you would appear to qualify for the exemption only if you are married, because if you are single only a portion of the gain is excludable,” she said. “The withholding would be the greater of 2% of the sales price of the home or 8.97% of the gain on the sale.”
One of the documents that will be completed when the sale goes through is NJ Form GIT/REP-3 – Seller’s Residency Certification/Exemption. This is where you declare your residency and claim exemption from the withholding tax, if eligible, she said.
Wolfe advises you to seek the advice of a real estate attorney or other competent professional who can help you determine your liabilities.
Karin Price Mueller writes the Bamboozled column for NJ Advance Media and is the founder of NJMoneyHelp.com. Follow NJMoneyHelp on Twitter @NJMoneyHelp. Find NJMoneyHelp on Facebook. Sign up for NJMoneyHelp.com’s weekly e-newsletter.