Entitles correctional officers with twenty-five (25) years of service and who are at least fifty-five (55) years of age to a non-Medicare-eligible retiree health care insurance benefit.
Impact
If enacted, S0973 will directly affect the benefits structure for public employees, particularly for correctional officers, by providing them with an additional layer of financial security through subsidized health insurance. This act aligns with ongoing efforts to ensure that retired public servants receive adequate benefits that cater to their health needs, thereby potentially improving the quality of life for retired correctional officers.
Summary
Bill S0973 is legislation that grants specific healthcare insurance benefits to correctional officers in Rhode Island who meet certain criteria. The bill stipulates that correctional officers with at least twenty-five years of service and who are aged fifty-five or older will qualify for a non-Medicare-eligible health care insurance benefit. This inclusion aims to enhance the retirement packages for these officers, recognizing their long service and the demanding nature of their jobs.
Contention
There may be points of contention surrounding the bill, particularly regarding its financial implications for the state's budget. Supporters argue that providing these benefits is a deserved recognition of the officers' contributions and sacrifices, while opponents may raise concerns about the sustainability of funding such benefits. Discussions in committee may also explore whether similar provisions could be extended to other groups within public service, which could foster broader discussions about equity and fairness in employee benefits.
Provides an option for members to receive retirement allowances, without reduction, upon reaching twenty-five (25) years of total service or after twenty (20) years of service upon reaching age fifty-seven (57).
Provides an option for members to receive retirement allowances, without reduction, upon reaching twenty-five (25) years of total service or after twenty (20) years of service upon reaching age fifty-seven (57).
Amends definition for final compensation, relative to police officers and firefighters, provides them life annuity regardless of age or years of service, upon retirement and further provides additional benefits upon retirement.
Reduces the number of years from five (5) to three (3), when calculating for retirement purposes, the average of the highest consecutive years of compensation, for teachers, and state and municipal employees.
Effective July 1, 2024, entitles environmental police officers to the benefits provided by chapter 45-21.2 entitled "Optional retirement for members of police force and firefighters."
Effective July 1, 2024, entitles environmental police officers to the benefits provided by chapter 45-21.2 entitled "Optional retirement for members of police force and firefighters."
Reduces the number of years from five (5) to three (3), when calculating for retirement purposes, the average of the highest consecutive years of compensation, for state and municipal employees.
Reduces the number of years from five (5) to three (3), when calculating for retirement purposes, the average of the highest consecutive years of compensation, for state and municipal employees.