This bill amends Section 28-30-18 of the General Laws concerning additional benefits for retired judges of the Workers' Compensation Court, as well as their surviving spouses and domestic partners. It introduces a cost-of-living retirement adjustment when the funded ratio of the employees' retirement system, the judicial retirement benefits trust, and the state police retirement benefits trust reaches seventy-five percent (75%), effective July 1, 2024.

The bill specifies that judges who retired before January 31, 1980, will be considered to have retired on January 1, 1980, for the purposes of this section. It also outlines provisions for judges not eligible to retire as of September 30, 2009, and establishes a framework for benefit adjustments based on the funded ratio of the retirement systems.

Additionally, the bill includes provisions for one-time stipends of $500 for retired members or beneficiaries, payable within sixty days of the legislation's enactment, and a second stipend in the following year. Overall, the bill aims to enhance the financial security of retired judges and their beneficiaries by ensuring they receive appropriate cost-of-living adjustments and additional financial support.

Statutes affected:
5737: 28-30-18