2022 -- S 2453 | |
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LC005132 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2022 | |
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A N A C T | |
RELATING TO PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM-- | |
MEMBERSHIP AND SERVICE CREDITS | |
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Introduced By: Senators DiPalma, Seveney, Felag, Sosnowski, Murray, Ciccone, | |
Date Introduced: March 01, 2022 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 36-9-31 of the General Laws in Chapter 36-9 entitled "Retirement |
2 | System - Membership and Service Credits" is hereby amended to read as follows: |
3 | 36-9-31. Armed service credit. |
4 | (a) Any active member of the retirement system, who served on active duty in the armed |
5 | service of the United States or in the Merchant Marine service of the United States as defined in |
6 | P.L. 1946, ch. 1721, ยง 2 may purchase credit for that service up to a maximum of four (4) years |
7 | provided that he or she has received an honorable discharge. Provided further that any employee |
8 | on an official leave of absence for illness or injury shall be eligible to purchase military credits as |
9 | defined herein while on the leave of absence. |
10 | (b) For members of the retirement system, who served in the national guard or reserves, |
11 | who qualify as a veteran, may purchase creditable service at a ratio of five (5) years of guard or |
12 | reserve service to one year of creditable service up to a maximum of four (4) years; provided that, |
13 | he or she has received an honorable discharge. Provided further, that any employee on an official |
14 | leave of absence for illness or injury shall be eligible to purchase military credits as defined herein |
15 | while on the leave of absence. |
16 | (b)(c) The cost to purchase these credits shall be ten percent (10%) of the member's first |
17 | year's earnings as a state employee as defined in chapter 9 of this title, multiplied by the number of |
18 | years and fraction thereof of the armed service or Merchant Marine service up to a maximum of |
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1 | four (4) years. |
2 | (c)(d)There will be no interest charge provided the member makes that purchase during his |
3 | or her first five (5) years of membership in the retirement system, but will be charged regular |
4 | interest to date of purchase from date of enrollment into membership if purchased after completing |
5 | five (5) years of membership; provided, however, any member who was in the retirement system |
6 | prior to July 1, 1980, would not be charged interest whenever he or she purchases the armed |
7 | services credit. |
8 | SECTION 2. This act shall take effect upon passage. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM-- | |
MEMBERSHIP AND SERVICE CREDITS | |
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1 | This act would allow members of the retirement system who served in the national guard |
2 | or reserves and who qualify as veterans to purchase retirement service credits. |
3 | This act would take effect upon passage. |
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