The bill amends Sections 16-16-12, 36-10-9, and 45-21-16 of the General Laws to update retirement procedures for teachers and state and municipal employees. Commencing July 1, 2026, the bill allows teachers in active service to retire upon the earlier of: (A) attaining at least age sixty (60) and completing at least thirty (30) years of total service; or (B) reaching their retirement eligibility date under existing state statutes.

The bill clarifies that members must have contributed for at least ten years to qualify for pension benefits, or five years for those in active contributory service after July 1, 2012. It emphasizes the importance of accurate reporting of service time and credit, imposing penalties for false statements made to the retirement board.

Additionally, the legislation outlines provisions regarding service credit purchases, vesting requirements, and member responsibilities in disclosing service history, ultimately aiming to provide clearer retirement pathways for educators and municipal employees while ensuring the integrity of the retirement system.

Statutes affected:
7390: 16-16-12, 36-10-9, 45-21-16