RI H7444

Increases the retirement benefit multiplier from 2.25% to 2.5% of final compensation for years of service after June 30, 2026 for all police officers and firefighters, regardless of age or years of service

Effective July 1, 2026, retirement allowances will equal the member's accrued benefit as of June 30, 2026, plus 2.5% of final compensation multiplied by years of service after that date

Members who retire at age 57 with at least 30 years of service retain their existing benefit calculation for the period July 1, 2012 through June 30, 2026, then receive the enhanced 2.5% multiplier for subsequent service

Maximum retirement allowance remains capped at 75% of final compensation

Takes effect upon passage