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RI H8147
Bill
Status
2/27/2026
Primary Sponsor
Patricia Serpa
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AI Summary
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Establishes annual cost of living adjustments (COLAs) beginning January 1, 2026 for retired state employees, teachers, and municipal employees in Rhode Island's pension system, calculated using the Consumer Price Index for All Urban Consumers (CPI-U) or 3%, whichever is less
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COLAs will be compounded annually into retirees' total retirement benefits, with the new compounded total serving as the basis for subsequent year calculations; adjustments cannot fall below 0%
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Excludes retired judges and state police members from the new COLA provisions for state employees
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Funding for the COLAs will come from existing retirement system funds without increasing employer contribution requirements
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Contains a sunset provision causing the new COLA provisions to expire on July 1, 2035
Legislative Description
Provides that retirees in the state pension system receive cost of living adjustments compounded into the retiree’s total retirement benefits each year beginning January 1, 2026. This act would be prospective only.
Public Officers And Employees
Last Action
Introduced, referred to House Finance
2/27/2026