2019 -- H 5855

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LC002172

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2019

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A N   A C T

RELATING TO TOWNS AND CITIES - CENTRAL FALLS RETIREES' PENSION

BENEFITS

     Introduced By: Representatives McLaughlin, Hull, Corvese, Jackson, and Johnston

     Date Introduced: March 14, 2019

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. Chapter 45-21 of the General Laws entitled "Retirement of Municipal

Employees" is hereby amended by adding thereto the following section:

     45-21-67.1. Gradual increase of pension benefits for Central Falls retirees.

     Notwithstanding the provisions of § 45-21-67, effective September 1, 2019, each Central

Falls retiree covered by the terms of the settlement agreement enacted pursuant to § 45-21-67

shall receive seventy-six percent (76%) of their base pension benefit (as the term is defined in §

45-21-67(a)), after taking into account all applicable cost-of-living adjustments for their lifetime,

and to the extent applicable, after taking into account all applicable cost-of-living adjustments to

their beneficiaries for their lifetime; this increase shall be retroactive to January 1, 2019, and this

section, if applicable, shall apply to surviving spouse benefits.

     SECTION 2. This act shall take effect upon passage.

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LC002172

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TOWNS AND CITIES - CENTRAL FALLS RETIREES' PENSION

BENEFITS

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     This act would provide that effective September 1, 2019, Central Falls retirees or

surviving spouses would receive seventy-six percent (76%) of their base pension benefits after

adjustments, retroactive to January 1, 2019.

     This act would take effect upon passage.

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