This bill amends the existing science, technology, engineering, and mathematics (STEM) teacher grant program to include retired teachers as eligible participants. It expands the definition of "eligible teacher" to encompass individuals who were previously employed as teachers in public schools and are receiving retirement benefits from the Teachers Pension and Annuity Fund. The bill also allows for the inclusion of teachers who may teach other STEM subjects or areas beyond the traditional categories of science, technology, engineering, and mathematics. Additionally, it establishes a formula for calculating the remuneration of retired teachers participating in the program, ensuring they receive compensation based on the Statewide average teacher salary.

Furthermore, the bill stipulates that grant funds will be paid directly to eligible teachers rather than through their respective school districts, streamlining the compensation process. The Commissioner of Education is authorized to contract with a third party for the administration of these payments. To support the implementation of these provisions, the bill appropriates $3.5 million from the General Fund to the Department of Education. Overall, this legislation aims to enhance the availability of qualified STEM educators in both public and nonpublic schools, addressing the workforce demands in New Jersey's economy.

Statutes affected:
Introduced: 18A:6-137, 18A:6-138, 18A:6-139