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RI H5999

RI H5999
Amends the pension benefits for both current and former Rhode Island state police members, and would extend the time period a member may serve in the Rhode Island state police.


summary

Introduced
02/28/2025
In Committee
02/28/2025
Crossed Over
Passed
Dead
06/20/2025

Introduced Session

2025 Regular Session

Bill Summary

This act would amend the pension benefits for both current and former Rhode Island state police members, and would extend the time period a member may serve in the Rhode Island state police. This act would take effect upon passage.

AI Summary

This bill amends the retirement provisions for Rhode Island state police members, making several key changes to their pension benefits and service requirements. The bill extends the time certain state police members may serve beyond the previous mandatory retirement age of 25 years or 62 years. Specifically, it provides exemptions for members sworn in during 1997, 2000, and 2005 to continue serving beyond their previous retirement deadlines, with members from the 1997 cohort able to serve until September 1, 2026, those from 2000 until July 1, 2028, and those from 2005 until December 21, 2030. The bill modifies how retirement allowances are calculated, including how "whole salary" is defined, and introduces new provisions for cost-of-living adjustments. It ensures that retirement benefits for members hired before and after 2007 are calculated differently, with provisions to protect members' existing benefit levels. The bill also includes a one-time benefit adjustment for retirees who retired on or before June 30, 2012, and establishes new rules for annual benefit adjustments that are tied to the retirement system's investment performance and funding ratio. Additionally, the bill provides that members who work beyond their 25th year will continue to make retirement contributions, and ensures that any members who previously received lower benefits due to legislative changes will be entitled to receive benefits prospectively as outlined in this bill.

Committee Categories

Budget and Finance

Sponsors (10)

Last Action

Committee recommended measure be held for further study (on 04/22/2025)

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