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2012 -- S 2452 | |
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LC01451 | |
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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 RETIREMENT -- TOWNS AND CITIES | |
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Introduced By: Senator Beatrice A. Lanzi | |
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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 45-21.2-5 of the General Laws in Chapter 45-21.2 entitled |
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"Optional Retirement for Members of Police Force and Fire Fighters" is hereby amended to read |
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as follows: |
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45-21.2-5. Retirement on service allowance. -- (a) Retirement of a member on a service |
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retirement allowance for members eligible to retire on or before June 30, 2012 shall be made, |
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subject to paragraph (a)(11) below, by the retirement board as follows: |
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(1) Any member who has attained or attains age seventy (70) shall be retired as stated in |
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section 45-21-16 subject to the discretions contained in that section; provided, that any member |
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who is a member of the Woonsocket fire department who has attained or attains an age of sixty- |
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five (65) years shall be retired. Retirement occurs on the first day of the next succeeding calendar |
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month in which the member has attained the age of sixty-five (65) years. |
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(2) Any member may retire pursuant to this subdivision upon written application to the |
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board stating at what time the member desires to retire; provided, that the member at the specified |
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time for retirement has attained an age of fifty-five (55) years and has completed at least ten (10) |
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years of total service, and notwithstanding that the member may have separated from service. |
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(3) Any member may retire pursuant to this subdivision upon written application to the |
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board stating at what time the member desires to retire; provided, that the member at the specified |
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time for retirement has completed at least twenty-five (25) years of total service, and |
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notwithstanding that the member may have separated from service. |
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(4) Any member may retire pursuant to this subdivision upon written application to the |
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board stating at what time the member desires to retire; provided, that the member at the specified |
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time for retirement has attained an age of fifty (50) years and has completed at least twenty (20) |
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years of total service, notwithstanding that the member may have separated from service; |
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provided, that the service retirement allowance, as determined according to the formula provided |
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in section 45-21.2-6, is reduced one-half of one percent ( 1/2%) for each month that the age of the |
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member is less than fifty-five (55) years. |
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(5) Any member of the South Kingstown police department may retire pursuant to this |
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subdivision upon written application to the board stating at what time the member desires to |
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retire; provided, that the member at the specified time for retirement has earned a service |
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retirement allowance of fifty percent (50%) of final compensation pursuant to section 45-21.2- |
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6.1. |
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(6) Any member of the Johnston police department may retire pursuant to this |
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subdivision upon written application to the board stating at what time the member desires to |
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retire; provided, that the member at the specified time for retirement has earned a service |
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retirement allowance of fifty percent (50%) of final compensation pursuant to section 45-21.2- |
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6.2. |
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(7) Any member of the Cranston fire department hired after July 1, 1995, or any member |
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of the Cranston fire department with five (5) years or less of service effective July 1, 1995, may |
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retire pursuant to this subdivision upon written application to the board stating at what time the |
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member desires to retire; provided, that the member at the specified time for retirement has |
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earned a service retirement allowance of fifty percent (50%) of final compensation for at least |
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twenty (20) years service; final compensation for Cranston fire department members is based on |
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the compensation components of weekly salary, longevity and holidays with longevity of the |
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members highest year of earnings and members shall receive a three percent (3%) escalation of |
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their pension payment compounded each year on January 1st following the year of retirement and |
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continuing on an annual basis on that date; further, any illness or injury not covered in title 45 of |
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the general laws relating to the presumption of disability is governed by the collective bargaining |
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agreement between the City of Cranston and members of the Cranston fire department. |
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(8) Any member of the Cranston police department hired after July 1, 1995, or any |
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member of the Cranston police department with five (5) years or less of service effective July 1, |
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1995, may retire pursuant to this subdivision upon written application to the board stating at what |
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time the member desires to retire; provided, that the member at the specified time for retirement |
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has earned a service retirement allowance of fifty percent (50%) of final compensation for at least |
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twenty (20) years service; final compensation for Cranston police department members is based |
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on the compensation components of weekly salary, longevity and holidays with longevity of the |
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members highest year of earnings and members shall receive a three percent (3%) escalation of |
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their pension payment compounded each year on January 1st following the year of retirement and |
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continuing on an annual basis on that date; further, any illness or injury not covered in title 45 of |
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the general laws relating to the presumption of disability is governed by the collective bargaining |
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agreement between the City of Cranston and members of the Cranston police department. |
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(9) Any member of the Hopkinton police department may retire pursuant to this |
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subdivision upon written application to the board stating at what time the member desires to |
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retire; provided, that the member at the specified time for retirement has earned a service |
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retirement allowance of fifty percent (50%) of final compensation for at least twenty (20) years |
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service; final compensation for Hopkinton police department members is based on the |
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compensation components of weekly salary, longevity and holidays with longevity of the |
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members highest year of earnings and members shall receive a three percent (3%) escalation of |
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their pension payment compounded each year on January 1st following the year of retirement and |
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continuing on an annual basis on that date. |
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(10) Any member of the Richmond police department may retire pursuant to this |
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subdivision upon written application to the board stating at what time the member desires to |
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retire; provided, that the member at the specified time for retirement has earned a service |
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retirement allowance of fifty percent (50%) of final compensation for at least twenty-two (22) |
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years' service pursuant to section 45-21.2-6.3. |
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(11) Notwithstanding any provision in this section to the contrary, for any service on or |
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after July 1, 2012, final compensation shall be defined in accordance with section 45-21.2-2, and |
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no benefit adjustments shall be provided except as set forth in subsection 45-21-52(c). |
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(b) Retirement of a member on a service retirement allowance eligible to retire on and |
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after July 1, 2012 shall be made by the retirement board as follows: |
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(1) Any member may retire pursuant to this subdivision upon written application to the |
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board stating at what time the member desires to retire; provided, that the member at the specified |
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time for retirement attained the age of at least fifty-five (55) years and has completed at least |
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twenty-five (25) years of total service, and notwithstanding that the member may have separated |
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from service. |
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(2) 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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service, shall be eligible to retire |
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his or her social security retirement age or the age sixty-seven (67) years, whichever comes first. |
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(3) If a member had ten (10) or more years of contributory service and attained age |
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forty-five (45) prior to July 1, 2012 and would have been eligible to retire at or prior to age fifty- |
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two (52) in accordance with the rules in effect prior to July 1, 2012, the member may retire upon |
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attainment of age fifty-two (52). |
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(4) A member who has completed twenty (20) or more years of total service who has |
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attained an age within five (5) years of the eligible retirement age under subparagraphs (b)(1) or |
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(b)(2) above, may elect to retire provided that the retirement allowance shall be reduced |
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actuarially for each month that the age of the member is less than the eligible retirement age |
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under subparagraphs (b)(1) or (b)(2) above. |
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(5) Notwithstanding any other provisions of this section, a member on June 30, 2012, |
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may elect to retire at his or her eligible retirement date as determined under the rules in effect on |
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June 30, 2012 provided that a member making an election under this paragraph shall receive the |
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member's retirement benefit determined and calculated based on the member's service and final |
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compensation as of June 30, 2012. This provision shall be interpreted and administered in a |
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manner to protect a member's accrued benefit on June 30, 2012. |
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SECTION 2. This act shall take effect upon passage. |
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LC01451 | |
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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 RETIREMENT -- TOWNS AND CITIES | |
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This act would provide that police and fire fighters who meet certain requirements could |
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retire, but would not be able to collect a pension until the member reached his or her social |
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security retirement age or age 67, whichever would come first. |
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This act would take effect upon passage. |
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LC01451 | |
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