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.
Requires that present and former employees, active and retired members, and beneficiaries receiving any retirement, disability or death allowance receive a $2,000 increase per year.
Effective January 1, 2025, an annual cost-of-living increase, based upon the yearly Consumer Price Index for all Urban Consumers (CPI-U), to the retirement allowance for all state employees and all beneficiaries to be reinstated.
Increases monthly minimum benefit for a spouse, domestic partner, former spouse. Grant a 2.89% COLA for eligible retirees. Provided a modification reducing federal AGI for public pension benefits from the RI employees retirement system.
Increases monthly minimum benefit for a spouse, domestic partner, former spouse. Grant a 2.89% COLA for eligible retirees. Provided a modification reducing federal AGI for public pension benefits from the RI employees retirement system.
Amend a provision in the general laws relative to additional benefits payable to retired judges and their surviving spouses.
Amend a provision in the general laws relative to additional benefits payable to retired judges and their surviving spouses.