NJ A3118

Requires the Director of the Division of Budget and Accounting to establish a separate fringe benefit rate for State public higher education institutions beginning in fiscal year 2023, reflecting the actual cost of employee retirement programs at those institutions

Limits the reduction in payments to the State under the new rate to no more than $47 million compared to payments calculated under the prior rate methodology

Extends State Health Benefits Program eligibility to part-time faculty (including lecturers and adjuncts) who taught at least 24 credits in the prior fiscal year and are appointed to teach at least 12 credits between July 1 and December 31 of the current year

Qualifying part-time faculty will be considered full-time employees for health benefits purposes, with coverage continuing through September 30 of the following fiscal year to prevent gaps in coverage

Requires public institutions of higher education to pay health care costs for eligible part-time faculty, with billing distributed proportionally among institutions based on credits taught at each school