Establishes fringe benefit rate for State public higher education institutions; requires employer pay for health care benefits for certain part-time faculty.

This bill establishes a separate fringe benefit rate for New Jersey's public higher education institutions (including Rutgers and NJIT) that reflects the actual cost of employee retirement programs. It requires public colleges and universities to pay for health care benefits for eligible part-time faculty members, including adjuncts and lecturers, who teach at least 24 credits in the prior fiscal year and 12 credits between July 1 and December 31 of the current year. Under the bill, these faculty members would be considered "full-time" for health benefits purposes, shifting the cost from the faculty to the employer. The State Health Benefits Commission will establish rules for billing institutions based on the number of credits taught by qualifying faculty members. The bill takes effect immediately.