NJ S3177

Requires the Director of the Division of Budget and Accounting to establish a separate fringe benefit rate for State public higher education institutions (Rutgers, NJIT, State colleges) reflecting actual retirement program costs, starting with fiscal year 2023

Caps the reduction in payments to the State under the new fringe benefit rate at no more than $47 million below what would be calculated using the previous rate methodology

Makes part-time faculty eligible for State Health Benefits Program (NJ Direct 2019 or Omnia Tiered Network plans) if they 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

Requires public institutions of higher education to pay employer costs for health care benefits for eligible part-time faculty, with billing proportional to credits taught at each institution

Extends health care coverage for eligible part-time faculty from July 1 through September 30 of the following fiscal year to prevent gaps in coverage