NJ A3868

Requires the Director of the Division of Budget and Accounting to establish a separate fringe benefit rate for New Jersey public higher education institutions (Rutgers, NJIT, State colleges) that reflects actual employee retirement program costs, with implementation beginning fiscal year 2023.

Caps the reduction in payments to the State under the new fringe benefit rate at no more than $47 million compared to the previous calculation method.

Makes part-time faculty eligible for State Health Benefits Program coverage 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 fiscal year.

Eligible part-time faculty would be treated as full-time employees for health benefits purposes, with coverage continuing through September 30 of the following fiscal year to prevent gaps in coverage.

Requires the State Health Benefits Commission to bill public higher education institutions proportionally based on the number of credits a part-time faculty member taught at each institution in the prior fiscal year.