Section 45-21-51.1. – Optional annuity protection — Election of option by member.
§ 45-21-51.1. Optional annuity protection — Election of option by member. (a) Upon death of a member having (1) at least ten (10) years of membership service on or before June 30, 2012, or (2) for active contributing members on or after July 1, 2012, at least five (5) years of membership service, the spouse […]
Section 45-21-52. – Automatic increase in service retirement allowance.
§ 45-21-52. Automatic increase in service retirement allowance. (a) The local legislative bodies of the cities and towns may extend to their respective employees automatic adjustment increases in their service retirement allowances, by a resolution accepting any of the plans described in this section: (1) Plan A. All employees and beneficiaries of those employees receiving […]
Section 45-21-53. – Armed service credit.
§ 45-21-53. Armed service credit. (a) Any active municipal employee who served on active duty in the armed service of the United States or in the merchant marine service of the United States as defined in § 2 of chapter 1721 of the public laws, 1946, may purchase credit for that service up to a […]
Section 45-21-54. – Reemployment of retired members.
§ 45-21-54. Reemployment of retired members. Any retired member of the system is permitted to reenter the service of the system for not more than seventy-five (75) working days in a calendar year without interruption of pension benefits. Pension payments, however, are suspended when that period is exceeded. This seventy-five-day (75) rule shall not apply […]
Section 45-21-54.1. – Reemployment of retired members related to COVID-19. [Expires after 2021-2022 school year.]
§ 45-21-54.1. Reemployment of retired members related to COVID-19. [Expires after 2021-2022 school year.] (a) Notwithstanding any public or general law, or rule or regulation to the contrary, any teacher, administrator, or staff member who has retired under the provisions of title 16, 36, or 45 may, as part of the public health crisis caused […]
Section 45-21-55. – Retired members of the town of Warren.
§ 45-21-55. Retired members of the town of Warren. Every person, who was an employee of the town of Warren receiving retirement benefits prior to July 1, 1974, shall be paid benefits at a rate equivalent to that in effect for retirees on and after July 1, 1974; provided, that the town of Warren shall […]
Section 45-21-56. – Credit for other municipal service.
§ 45-21-56. Credit for other municipal service. (a) Any member who was employed by a municipality, as defined in § 45-21-2, which did not elect to accept this chapter, as provided in § 45-21-4, shall be given credit for that service for the various purposes of this system; provided, that the member pays to the […]
Section 45-21-57. – Life insurance benefits.
§ 45-21-57. Life insurance benefits. Notwithstanding any other provision of law to the contrary, any member who, at the time of retirement from service, has in effect life insurance provided for as a benefit of his or her employment, shall, after retirement, be entitled to keep the policy of life insurance in effect by paying […]
Section 45-21-43. – Accounts and records — Reserve accounts.
§ 45-21-43. Accounts and records — Reserve accounts. (a) An adequate system of accounts and records is established and maintained for the system that fully reflects the requirements of this chapter. All assets of the system are credited according to the purposes for which they are held in the following designated reserve accounts: (1) Members’ […]
Section 45-21-43.1. – Actuarial cost method.
§ 45-21-43.1. Actuarial cost method. (a) To determine the employer contribution rate for any participating municipality, the actuary shall compute the costs under chapters 21 and 21.2 of title 45 using the entry age normal cost method. (b) The determination of the employer contribution rate for fiscal year 2013 shall include a re-amortization of the […]