The bill amends Section 42-28-22 of the General Laws regarding the retirement benefits for members of the Rhode Island state police, introducing new eligibility criteria and benefit structures based on the date of hire. Members hired before July 1, 2007, can retire after 25 years of service or upon reaching age 62, receiving a retirement allowance calculated based on their years of service, with specific percentages applied to their whole salary. Members hired on or after July 1, 2007, will have their retirement allowance calculated based on their years of total contributory service, with a percentage of 2% applied to their whole salary.

The bill establishes a fixed annual benefit adjustment of $1,500 for all current and former members, active and retired, effective each January for their lifetime. It also includes a one-time benefit adjustment of $1,500 for retirees who left service on or before June 30, 2012. Additionally, the bill allows certain members sworn in during specific years (1997, 2000, and 2005) to extend their service without mandatory retirement until designated future dates, while ensuring that those who previously received lower retirement benefits due to legislative changes will now receive the benefits as outlined in this act. The act will take effect upon passage.

Statutes affected:
428: 42-28-22