This bill amends current law related to retirement benefits for teachers and state employees in Rhode Island. It allows members who have served as state employees or employees of participating municipalities to receive credit for their service towards retirement benefits. It also allows members who have served as both teachers and state employees to combine their service to determine their retirement eligibility date and receive a single benefit. The bill also amends the retirement system contributions and benefits for correctional officers. It changes the retirement age and service requirements for members who become eligible to retire on or after October 1, 2009. It also allows members who have served as both state employees and correctional officers to combine their service to determine their retirement eligibility date and receive a single benefit. The bill specifies the amount of retirement allowance that members will receive based on their years of service. This bill will take effect upon passage.

Statutes affected:
223: 16-16-8