This bill amends Section 28-30-18 of the General Laws concerning the Workers' Compensation Court to include provisions for additional benefits payable to retired judges and their surviving spouses or domestic partners. It establishes 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%). This threshold replaces the previous requirement of eighty percent (80%) and will take effect on July 1, 2024.

The bill also specifies that judges who retired prior to January 31, 1980, will be considered to have retired on January 1, 1980, for the purposes of these adjustments. Additionally, it introduces a limit on the cost-of-living adjustment for judges not eligible to retire as of September 30, 2009, and outlines specific conditions under which benefit adjustments will be suspended or calculated based on the funded ratio of the retirement systems.

Overall, the bill aims to enhance the financial security of retired judges and their families by ensuring they receive appropriate cost-of-living adjustments and additional benefits.

Statutes affected:
459: 28-30-18