This bill aims to provide additional benefits to retired teachers and state employees in Rhode Island. It includes provisions for cost of living adjustments for teachers and state employees who retired on or before certain dates, as well as a formula for annual benefit adjustments based on investment returns and the Consumer Price Index. The bill also includes provisions for a one-time stipend for retired members and beneficiaries, which would be paid from the state's general fund.

Overall, the bill seeks to provide benefit adjustments and stipends to retired teachers and state employees based on certain criteria and funding levels.

Statutes affected:
996: 16-16-40, 36-10-35