No, currently Rutgers Connect is not FISMA Compliant. For more information on what can be stored on Connect, please review the data classification and storage matrix. 

The US Federal Risk and Authorization Management Program (FedRAMP) was established to provide a standardized approach for assessing, monitoring, and authorizing cloud computing products and services under the Federal Information Security Management Act (FISMA), and to accelerate the adoption of secure cloud solutions by federal agencies.

Additional information can be found on Microsoft's FedRAMP website.