Committee releases benefits supplemental bill

TRENTON – The Assembly Higher Education Committee passed a bill authorizing public institutions of higher education to make a supplemental contribution to a faculty member’s Alternate Benefit Program (ABP) account.

According to the language of A1169, “the supplemental contribution may include an amount that results in a total contribution that exceeds the rate of 8% of the maximum salary for department officers, which is currently $141,000, but does not exceed the rate equal to 8% of the faculty member’s base salary.”

At present, the state must make the 8% employer contribution for Rutgers, the State University of New Jersey, the University of Medicine and Dentistry of New Jersey, the New Jersey Institute of Technology, and the state and county colleges.

Committee releases benefits supplemental bill