Chapter 486

2012 -- H 8256

Enacted 06/28/12

A N A C T

RELATING TO PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM --

CONTRIBUTIONS AND BENEFITS

Introduced By: Representatives Keable, Mattiello, and Melo

Date Introduced: June 07, 2012

It is enacted by the General Assembly as follows:

SECTION 1. Sections 45-21.2-22 and 45-21.2-22.1 of the General Laws in Chapter 45-

21.2 entitled "Optional Retirement for Members of Police Force and Fire Fighters" are hereby

amended to read as follows:

45-21.2-22. Optional twenty year retirement on service allowance. -- (a) The local

legislative bodies of the cities and towns may, by ordinance adopted, permit the retirement of a

member on a service retirement allowance for members retiring eligible to retire on or before

June 30, 2012 as follows:

      (1) Any member may retire pursuant to this section upon his or her written application to

the board stating at what time he or she desires to retire; provided, that the member, at the

specified time for his or her retirement, has completed at least twenty (20) years of total service,

and, notwithstanding that the member may have separated from service;

      (2) Upon retirement from service pursuant to subdivision (1), a member receives a

retirement allowance which is a life annuity terminable at the death of the annuitant, and is equal

to two and one-half percent (2 1/2%) of final compensation multiplied by the years of total

service, but not to exceed seventy-five percent (75%) of final compensation;

      (3) Upon the adoption of a service retirement allowance, pursuant to this subdivision,

each member contributes an amount equal to one percent (1%) more than that contribution

required under section 45-21.2-14;

      (4) This section is exempt from the provisions of chapter 13 of this title.

      (b) For members retiring on or after July 1, 2012, the member's retirement allowance

shall equal the sum of (i) and (ii) where (i) is the member's benefit calculated under (a)(1)-(4)

above or section 45-21.2-5 for service on and before June 30, 2012 and (ii) is the member's

benefit determined under section 45-21.2-6 for service on and after July 1, 2012. For service on

and after July 1, 2012, the provisions of (a)(3) above shall no longer apply.

45-21.2-22.1. Burrillville police -- Optional twenty-year retirement on service

allowance. -- (a) Notwithstanding section 45-21.2-22, the town council of the town of

Burrillville, may by ordinance adopted, permit the retirement of a member on a service retirement

allowance for members retiring eligible to retire on or before June 30, 2012, as follows:

      (1) Any member may retire pursuant to this section upon his or her written application to

the board stating at what time he or she desires to retire; provided, that the member, at the

specified time of his or her retirement, has completed at least twenty (20) years of total service;

      (2) Upon retirement from service, pursuant to subdivision (1), a member receives a

retirement allowance that is a life annuity terminable at the death of the annuitant, and is equal to

three percent (3%) of final compensation multiplied by the years of total service, but not to

exceed sixty percent (60%) of final compensation;

      (3) Upon retirement from service where member has in excess of twenty (20) years of

service, a member receives a retirement allowance that is a life annuity terminable at the death of

the annuitant, and is an amount equal to the sum of three percent (3%) of final compensation

multiplied by the first twenty (20) years of service and one and one-half percent (1.5%) of final

compensation multiplied by the years of service in excess of twenty (20) years. The annual

retirement allowance in no event shall exceed seventy-five percent (75%) of final compensation;

      (4) Upon the adoption of a service retirement allowance, pursuant to this section, each

member shall contribute an amount equal to ten and two-tenths percent (10.2%) of the salary or

compensation earned or accrued to the member;

      (5) Notwithstanding anything to the contrary hereinabove, any member who retires with

less than twenty (20) years of service shall be subject to section 45-21.2-6 for purposes of

determining any service retirement allowance;

      (6) This section is exempt from the provisions of chapter 13 of this title;

      (7) Except as specifically set forth hereinabove, all other provisions of chapter 21.2 of

this title shall be applicable to Burrillville police officers who make application to retire.

      (b) For members retiring on or after July 1, 2012, the member's retirement allowance

shall equal the sum of (i) and (ii) where (i) is the member's benefit calculated under (a)(1) through

(a)(7) above for service on and before June 30, 2012 and (ii) is the member's benefit determined

under section 45-21.2-6 for service on and after July 1, 2012. For service on and after July 1,

2012, the provisions of (a)(4) above shall no longer apply.

SECTION 2. This act shall take effect upon passage.

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LC02807

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