Allows teachers, state and municipal employees to retire upon the earlier of reaching age sixty (60) with thirty (30) years of service or the employee's retirement eligibility date under present state statutes.
Reduces the current varying percentages for early retirement penalty for teachers, municipal and state employees to a cumulative annual reduction of 3% and monthly reduction of .25%.
Reduces the current varying percentages for early retirement penalty for teachers, municipal and state employees to a cumulative annual reduction of 3% and monthly reduction of .25%.
Recalculates the retirement allowance related to early retirement and pension benefits for teachers, state employees and municipal employees.
Recalculates the retirement allowance related to early retirement and pension benefits for teachers, state employees and municipal employees.
Exempts teachers and state employees who have been retired for more than three (3) full calendar years, from having their retirement benefit adjustment reduced based upon the funded ratio of the employees' retirement system of Rhode Island.
Retirement Death Benefits Rewrite.-AB
Retirement Death Benefits Rewrite.-AB