Rhode Island S2835 changes the retirement benefit calculation cutoff date for teachers and state employees from July 1, 2024, to July 1, 2012.
Rhode Island S2835 amends the retirement benefit calculation cutoff date for teachers and state employees from July 1, 2024, to July 1, 2012. This change applies to all retirement members who are eligible to retire on or after the new cutoff date. The bill also modifies the average compensation calculation for retirement benefits, reducing it from the highest five years to the average of the highest three consecutive years of compensation. This act takes effect upon passage.
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