2014 -- S 2451 | |
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LC004702 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2014 | |
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A N A C T | |
RELATING TO PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM-- | |
CONTRIBUTIONS AND BENEFITS | |
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Introduced By: Senators Walaska, and Ciccone | |
Date Introduced: February 27, 2014 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 36-10 of the General Laws entitled "Retirement System- |
2 | Contributions and Benefits" is hereby amended by adding thereto the following section: |
3 | 36-10-35.2. Lifetime cap on retired employees' benefits. – (a) Notwithstanding the |
4 | provisions of chapter 36-10, no retired employee receiving benefits under title 36 shall be |
5 | awarded retirement benefits in excess of the highest salary level of said employee achieved |
6 | during the three (3) year period immediately prior to the date of retirement. |
7 | (b) The provisions of this section shall apply to any employee who retires on or after July |
8 | 1, 2014. |
9 | SECTION 2. Chapter 16-16 of the General Laws entitled "Teachers' Retirement [See |
10 | Title 16 Chapter 97 - The Rhode Island Board of Education Act]" is hereby amended by adding |
11 | thereto the following section: |
12 | 16-16-40.2. Lifetime cap on retired teachers' benefits. – (a) Notwithstanding the |
13 | provisions of chapter 16-16, no retired teacher receiving benefits under title 16 shall be awarded |
14 | retirement benefits in excess of the highest salary level of said teacher achieved during the three |
15 | (3) year period immediately prior to the date of retirement. |
16 | (b) The provisions of this section shall apply to any teacher who retires on or after July 1, |
17 | 2014. |
18 | SECTION 3. Chapter 45-21 of the General Laws entitled "Retirement of Municipal |
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1 | Employees" is hereby amended by adding thereto the following section: |
2 | 45-21-52.1. Lifetime cap on retired municipal employees' benefits. – (a) |
3 | Notwithstanding the provisions of chapter 45-21, no retired municipal employee receiving |
4 | benefits under title 45 shall be awarded retirement benefits in excess of the highest salary level of |
5 | said municipal employee achieved during the three (3) year period immediately prior to the date |
6 | of retirement. |
7 | (b) The provisions of this section shall apply to any municipal employee who retires on |
8 | or after July 1, 2014. |
9 | SECTION 4. 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-- | |
CONTRIBUTIONS AND BENEFITS | |
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1 | This act would cap the lifetime retirement benefits awarded to retired state and municipal |
2 | employees, and retired teachers, to the highest salary level achieved by those groups during the |
3 | three (3) year period immediately prior to the date of retirement. This act would apply to those |
4 | individuals retiring on or after July 1, 2014. |
5 | This act would take effect upon passage. |
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