H8506

Amends pension plan terms for Central Falls police and firefighters under collective bargaining agreements effective July 1, 2026.

This bill amends the pension plan terms for Central Falls police and firefighters under collective bargaining agreements effective July 1, 2026. It reduces the contribution rate for active members from 11.7% to 10% of their salary or compensation. The Central Falls plan will be closed to new members as of August 31, 2019. Disability determinations for members hired before September 1, 2019, will be made by the retirement board. If a member leaves Central Falls for another municipality not in critical status, their accrued liability will be transferred. The bill takes effect upon passage.