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2012 -- S 2450 | |
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LC01539 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2012 | |
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A N A C T | |
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RELATING TO PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM-- | |
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CONTRIBUTIONS AND BENEFITS | |
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Introduced By: Senator Michael J. McCaffrey | |
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Date Introduced: February 16, 2012 | |
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Referred To: Senate Finance | |
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It is enacted by the General Assembly as follows: | |
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SECTION 1. Section 36-10-9.2 of the General Laws in Chapter 36-10 entitled |
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"Retirement System-Contributions and Benefits" is hereby amended to read as follows: |
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36-10-9.2. Retirement on service allowance -- Correctional officers. -- (a) This section |
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shall apply to the retirement of members employed as assistant director (adult services), assistant |
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deputy director, chief of inspection, and associate directors, correctional officer, chief of security, |
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work rehabilitation program supervisor, supervisor of custodial records and reports, and |
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classification counselor within the department of corrections and deputy sheriff within the |
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department of public safety. |
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(b) (i) Any member who has attained the age of fifty (50) years may be retired |
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subsequent to the proper execution and filing of a written application; provided, however, that the |
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member shall have completed twenty (20) years of total service within the department of |
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corrections and who retires before October 1, 2009 or is eligible to retire as of September 30, |
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2009. |
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(ii) For members who become eligible to retire on or after October 1, 2009, benefits are |
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available to members who have attained the age of fifty-five (55) and have completed at least |
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twenty-five (25) years of total contributory service within the department of corrections. For |
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members in service as of October 1, 2009 who were not eligible to retire as of September 30, |
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2009 but who are eligible to retire on or prior to June 30, 2012, the minimum retirement age of |
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fifty-five (55) will be adjusted downward in proportion to the amount of service the member has |
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earned as of September 30, 2009. The proportional formula shall work as follows: |
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(1) The formula shall determine the first age of retirement eligibility under the laws in |
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effect on September 30, 2009 which shall then be subtracted from the minimum retirement age of |
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fifty-five (55). |
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(2) The formula shall then take the member's total service credit as of September 30, |
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2009 as the numerator and the years of service credit determined under (1) as the denominator. |
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(3) The fraction determined in (2) shall then be multiplied by the age difference |
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determined in (1) to apply a reduction in years from age fifty-five (55). |
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(c) Any member with contributory service on or after July 1, 2012, who has completed at |
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least five (5) years of contributory service but who has not completed twenty-five (25) years of |
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contributory service, shall be eligible to retire upon the attainment of the member's Social |
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Security retirement age. |
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SECTION 2. This act shall take effect upon passage. |
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LC01539 | |
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EXPLANATION | |
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BY THE LEGISLATIVE COUNCIL | |
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OF | |
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A N A C T | |
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RELATING TO PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM-- | |
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CONTRIBUTIONS AND BENEFITS | |
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This act would add deputy sheriffs, within the department of public safety, to the class of |
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members eligible to retire, pursuant to, the service allowance guidelines for correctional officers |
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and other specified employees within the department of corrections. |
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This act would take effect upon passage. |
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LC01539 | |
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