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RI S2249
Bill
Status
1/23/2026
Primary Sponsor
Walter Felag
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AI Summary
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Amends Rhode Island General Laws Section 45-21.2-5 governing optional retirement for municipal police officers and firefighters
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Establishes a 2.5% annual cost-of-living adjustment (COLA) for pension payments, compounded each year on January 1 following retirement
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Applies to all active members, retired members, and beneficiaries receiving any retirement allowance or benefit under the municipal police and firefighter retirement system
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Removes the previous restriction limiting benefit adjustments to only those set forth in § 45-21-52(c)
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Takes effect immediately upon passage
Legislative Description
Authorizes an annual two and one-half percent (2.5%) escalation for all active and retired police and firefighter's retirement pension allowance, compounded each year on January 1 following the year of retirement and continuing yearly, on that date.
Towns And Cities
Last Action
Introduced, referred to Senate Finance
1/23/2026