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2013 -- S 0687 | |
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LC01775 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2013 | |
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A N A C T | |
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RELATING TO EDUCATION - TEACHERS' RETIREMENT | |
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Introduced By: Senator David E. Bates | |
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Date Introduced: March 06, 2013 | |
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Referred To: Senate Education | |
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It is enacted by the General Assembly as follows: | |
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SECTION 1. Section 16-16-42 of the General Laws in Chapter 16-16 entitled "Teachers' |
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Retirement" is hereby amended to read as follows: |
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16-16-42. Life insurance benefits. -- Notwithstanding any other provision of law to the |
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contrary, any member who, at the time of retirement from service, has in effect life insurance |
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provided for as a benefit of his or her employment shall, after retirement, be entitled to keep the |
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policy of life insurance in effect by paying to the city or town an amount equal to the annual cost |
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of the policy for the individual |
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shall remain in effect for so long as the member continues to make annual payments. |
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SECTION 2. This act shall take effect upon passage. |
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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 EDUCATION - TEACHERS' RETIREMENT | |
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This act would require that member's post-retirement life insurance policy premiums |
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reflect the actual cost to the municipality rather than remain capped at the cost in effect at the |
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time of the member's retirement. |
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This act would take effect upon passage. |
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