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RI H7500
Bill
Status
Introduced
2/4/2026
Primary Sponsor
Evan Shanley
Click for details
AI Summary
- Changes the cutoff date for retirement benefit calculations from July 1, 2024 to July 1, 2009 for teachers, state employees, and municipal employees who are eligible to retire on or after that date
- Eliminates the requirement that members retiring between October 1, 2009 and July 1, 2024 use the average of their highest 5 consecutive years of compensation, replacing it with the more favorable 3-year average for all members retiring on or after July 1, 2009
- Amends three sections of Rhode Island General Laws: teachers' retirement (§ 16-16-13), state employee retirement system definitions (§ 36-8-1), and municipal employee retirement definitions (§ 45-21-2)
- Retroactively benefits members who retired or will retire between 2009 and 2024 by basing their retirement allowance on the highest 3 consecutive years of compensation rather than the highest 5 consecutive years
- Takes effect upon passage
Legislative Description
Changes the teacher and state employees' retirement benefit calculations' cutoff date from July 1, 2024, to July 1, 2009, for all retirement members eligible to and who retire on or after the new July 1, 2009, cutoff date.
Education
Last Action
Introduced, referred to House Finance
2/4/2026
Committee Referrals
Finance2/4/2026
Full Bill Text
No bill text available