H5855

	2019 -- H 5855
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	LC002172
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	STATE OF RHODE ISLAND
	IN GENERAL ASSEMBLY
	JANUARY SESSION, A.D. 2019
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	A N A C T
	RELATING TO TOWNS AND CITIES - CENTRAL FALLS RETIREES' PENSION
	BENEFITS

	Introduced By: Representatives McLaughlin, Hull, Corvese, Jackson, and Johnston
	Date Introduced: March 14, 2019
	Referred To: House Finance
	It is enacted by the General Assembly as follows:
1	SECTION 1. Chapter 45-21 of the General Laws entitled "Retirement of Municipal
2	Employees" is hereby amended by adding thereto the following section:
3	45-21-67.1. Gradual increase of pension benefits for Central Falls retirees.
4	Notwithstanding the provisions of § 45-21-67, effective September 1, 2019, each Central
5	Falls retiree covered by the terms of the settlement agreement enacted pursuant to § 45-21-67
6	shall receive seventy-six percent (76%) of their base pension benefit (as the term is defined in §
7	45-21-67(a)), after taking into account all applicable cost-of-living adjustments for their lifetime,
8	and to the extent applicable, after taking into account all applicable cost-of-living adjustments to
9	their beneficiaries for their lifetime; this increase shall be retroactive to January 1, 2019, and this
10	section, if applicable, shall apply to surviving spouse benefits.
11	SECTION 2. This act shall take effect upon passage.
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	LC002172
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	EXPLANATION
	BY THE LEGISLATIVE COUNCIL
	OF
	A N A C T
	RELATING TO TOWNS AND CITIES - CENTRAL FALLS RETIREES' PENSION
	BENEFITS
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1	This act would provide that effective September 1, 2019, Central Falls retirees or
2	surviving spouses would receive seventy-six percent (76%) of their base pension benefits after
3	adjustments, retroactive to January 1, 2019.
4	This act would take effect upon passage.
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	LC002172
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