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A1815 • 2026

Establishes fringe benefit rate for State colleges and universities.

Establishes fringe benefit rate for State colleges and universities.

Education
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Verrelli, Anthony S.
Last action
2026-01-13
Official status
Introduced, Referred to Assembly Higher Education Committee
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Establishes fringe benefit rate for State colleges and universities.

Establishes fringe benefit rate for State colleges and universities.

What This Bill Does

  • Establishes fringe benefit rate for State colleges and universities.
  • Topic: Higher Education Fiscal note: This bill has been certified by OLS for a fiscal note.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-01-13 New Jersey Legislature

    Introduced, Referred to Assembly Higher Education Committee

Official Summary Text

Establishes fringe benefit rate for State colleges and universities.
Topic:
Higher Education
Fiscal note:
This bill has been certified by OLS for a fiscal note.

Current Bill Text

Read the full stored bill text 
A1815

ASSEMBLY, No. 1815

STATE OF NEW JERSEY

222nd LEGISLATURE

�

PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION

Sponsored by:

Assemblyman ANTHONY S. VERRELLI

District 15 (Hunterdon and Mercer)

Assemblywoman VERLINA REYNOLDS-JACKSON

District 15 (Hunterdon and Mercer)

Assemblywoman SHANIQUE SPEIGHT

District 29 (Essex and Hudson)

SYNOPSIS

���� Establishes fringe benefit rate for State colleges
and universities.

CURRENT VERSION OF TEXT

���� Introduced Pending Technical Review by Legislative
Counsel.

��

An Act
establishing a fringe benefit rate for State colleges
and universities and supplementing Title 18A of the New Jersey Statutes.

����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:

���� 1.��� Beginning with the State
fiscal year 2025 and each fiscal year thereafter, the

Director of the Division of
Budget and Accounting in the Department of the Treasury shall establish a
separate fringe benefit rate for State colleges and universities.� The separate
fringe benefit rate shall reflect the actual cost of employee retirement
programs at those colleges and universities, and shall be applied to all
federal, dedicated, and non-State funded programs.

���� 2.��� This act shall take
effect immediately.

STATEMENT

���� T
his bill directs the Division of Budget and
Accounting, also known as the Office of Management and Budget, in the
Department of the Treasury to establish a fringe benefit rate for public
institutions of higher education that reflects the actual cost of employee
fringe benefits. The separate fringe rate is to first apply in FY 2025.

����� Currently, the fringe benefit rate used is not
specific to employees at the State�s public institutions of higher education,
but to State employees in general. Many State employees are enrolled in the
Public Employees� Retirement System (PERS), while many of the employees
employed by State public colleges and universities are enrolled in the less
costly Alternative Benefit Plan (ABP) or are not enrolled in a retirement plan.
This results in a difference between the actual cost of benefits and the amount
paid to the State.