The bill amends Sections 16-16-12, 36-10-9, and 45-21-16 of the General Laws to revise retirement procedures for teachers and other members of the retirement system. Effective July 1, 2026, the bill allows members in active service who have at least twenty-eight (28) years of total service to retire when they meet one of the following criteria: (A) when their age combined with their years of service totals eighty-five (85); or (B) when they reach their retirement eligibility date under existing provisions.

The bill clarifies eligibility for pension benefits, requiring members to have contributed for at least ten years, or five years for those in active contributory service after July 1, 2012. It emphasizes the importance of accurate reporting of service time and credits, imposes penalties for false statements, and includes provisions to protect accrued benefits for members as of June 30, 2012. Additionally, it establishes guidelines for service credit purchases and disclosure of vested status in other retirement systems. Overall, the bill aims to enhance retirement options while ensuring the integrity of the retirement system.

Statutes affected:
2842: 16-16-12, 36-10-9, 45-21-16