The bill amends Section 42-28-22 of the General Laws concerning the retirement benefits of Rhode Island state police members. It establishes that members hired before July 1, 2007, can retire after twenty years of service with a pension equal to half of their "whole salary" at retirement, while also clarifying the definition of "whole salary" to include base salary, longevity increments, holiday pay, clothing allowances, and overtime. For members hired after July 1, 2007, the retirement eligibility is set at twenty-five years of service, with a retirement allowance of 50% of their whole salary, which can increase by 3% for each additional year served beyond twenty-five years, capped at 65%. The bill also introduces provisions for annual cost-of-living adjustments and a one-time benefit adjustment for retirees who retired on or before June 30, 2012.

Significant deletions from current law include the removal of specific time frames for benefit adjustments and limitations on maximum retirement allowances based on salary in the twenty-fifth year. The bill allows members with military service to purchase credit for their service and ensures that retirement allowances will not fall below the amount calculated as of June 30, 2012. Additionally, it provides a fixed annual benefit adjustment of $1,500 starting July 1, 2025, and allows certain members to continue service without mandatory retirement until December 21, 2030. The act is designed to enhance retirement benefits and provide clearer guidelines for calculating those benefits, taking effect immediately upon passage.