Rhode Island S2090 amends retirement allowances for police officers and firefighters, adjusting benefits based on accrued benefits and service years.

Rhode Island S2090 modifies the retirement allowance for police officers and firefighters, providing an additional benefit based on accrued benefits and years of service. It allows retirees to choose between a reduced lifetime allowance or a half annuity after their death. For those retiring after June 30, 2026, the allowance increases by 2.5% per year of service. The bill also specifies that the lifetime annuity cannot exceed 75% of the final compensation. The changes take effect upon passage.

Rhode Island S2090 amends retirement allowances for police officers and firefighters, adjusting benefits based on accrued benefits and service years.

Rhode Island S2090 modifies the retirement allowance for police officers and firefighters, providing an additional benefit based on accrued benefits and years of service. It allows retirees to choose between a reduced lifetime allowance or a half annuity after their death. For those retiring after June 30, 2026, the allowance increases by 2.5% per year of service. The bill also specifies that the lifetime annuity cannot exceed 75% of the final compensation. The changes take effect upon passage.