Requires same limitation on public employee contributions to medical and dependent care flexible spending accounts as provided by federal law.

This bill requires New Jersey public employers (including state agencies, school boards, and local governments) to set contribution limits for medical/dental and dependent care flexible spending accounts (FSAs) at the same annual federal limits as specified in the Internal Revenue Code. Specifically, it mandates that public employees' salary reductions for medical/dental FSAs cannot exceed the federal limit adjusted for inflation (26 U.S.C. §125(i)), and dependent care FSA contributions must follow the federal limit (26 U.S.C. §129(a)). The bill amends existing statutes to align state rules with federal standards, ensuring public employees' FSA contributions comply with IRS guidelines. It directly affects all public employees participating in cafeteria plans for healthcare and dependent care expenses.