Rhode Island H7459 allows teachers to retire earlier under a Rule of 93.

Rhode Island H7459 modifies the retirement eligibility criteria for teachers, allowing them to retire earlier under a Rule of 93. This bill provides teachers with the option to retire upon reaching specific age and service milestones. For instance, teachers can retire if they are at least 65 years old with 28 years of service, or 64 years old with 29 years of service. The bill also includes provisions for actuarial reductions in retirement benefits for those retiring before the eligible retirement age.

Rhode Island H7459 allows teachers to retire earlier under a Rule of 93.

Rhode Island H7459 modifies the retirement eligibility criteria for teachers, allowing them to retire earlier under a Rule of 93. This bill provides teachers with the option to retire upon reaching specific age and service milestones. For instance, teachers can retire if they are at least 65 years old with 28 years of service, or 64 years old with 29 years of service. The bill also includes provisions for actuarial reductions in retirement benefits for those retiring before the eligible retirement age.