Requires a pupil transportation services contract to include: (1) Sufficient funds specifically for the contracting employer to provide the employees of the contractor with an employer health benefits contribution equal to the monthly school employer funding rate for the school employees' benefits board program, less the retiree remittance for the public employees' benefits board; and

(2) An amount equivalent to the total employer and employee contribution rate to the school employees' retirement system, multiplied by the estimated salaries of the employees of the contractor.