The bill amends Section 45-21.2-5 of the General Laws regarding optional retirement for members of the police force and firefighters. It introduces a new provision that allows members who have attained the age of fifty-seven (57) and have completed at least twenty (20) years of service to elect to retire without a reduction in their retirement allowance, effective July 1, 2027. This addition aims to provide more flexibility and benefits for long-serving members of the police and fire departments.

The bill also maintains existing retirement eligibility criteria for members who are eligible to retire on or before June 30, 2012, while outlining the conditions for those eligible to retire on or after July 1, 2012. The act will take effect upon passage.

Statutes affected:
2102: 45-21.2-5