§ 45-21.5-1. Legislative findings. The general assembly finds and declares the following: (1) All Rhode Islanders deserve retirement security, including those who have spent their careers serving their communities as first responders, school, and municipal employees; (2) The town of West Warwick’s pension plans are currently in “critical status” as defined in § 45-65-4 which […]
§ 45-21.5-2. Alternative acceptance by the town of West Warwick for West Warwick school and municipal employees. (a) The provisions of this section shall apply only to the locally-administered plan, excluding police and fire within the town of West Warwick, hereinafter referred to as the “West Warwick plan, excluding police and fire.” (b) No later […]
§ 45-21.5-3. Retiree participation in retirement plan for school and municipal employees. (a) The provisions of this section shall apply only to the locally-administered plan, excluding police and fire, within the town of West Warwick. (b)(1) Notwithstanding any provision of this chapter to the contrary, no later than August 31, 2021, West Warwick and the […]
§ 45-21.5-4. Alternative acceptance by the town of West Warwick of optional retirement for police and firefighters. (a) The provisions of this section shall apply only to the locally-administered plan for police and fire within the town of West Warwick hereinafter referred to as the “West Warwick plan for police and fire.” (b) No later […]
§ 45-21.5-5. Retiree participation in optional retirement plan for police and fire. (a) The provisions of this section shall apply only to the locally-administered plan for police and fire within the town of West Warwick. (b)(1) Notwithstanding any provision of this chapter to the contrary, no later than August 31, 2021, West Warwick may accept […]
§ 45-21.5-6. Transfer of assets. Subject to the provisions of §§ 45-21.5-2(b) and 45-21.5-3(b) being met, no later than July 1, 2022, the system shall be responsible for administering the West Warwick plans and West Warwick shall transfer to the system the accumulated contributions of each member entering the system, the assets related to the […]
§ 45-21.5-7. Funding improvement period. Subject to the provisions of §§ 45-21.5-2(b), 45-21.5-3(b), 45-21.5-4(b), and 45-21.5-5(b) being met, the funding improvement plan submitted by the town of West Warwick on March 29, 2014, shall have a funding improvement period of twenty (20) years for purposes of § 36-10.2-8. History of Section.P.L. 2021, ch. 226, § […]
§ 45-21.5-8. Withdrawal from the municipal employees’ retirement system. Withdrawal of any West Warwick plan that has joined the municipal employee retirement system pursuant to this chapter shall be as provided in § 45-21-5 and subject to §§ 45-21-6 and 45-21-7. Any such withdrawal shall not relieve West Warwick from the liabilities arising from its […]
