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RI S2538
Bill
Status
Introduced
2/13/2026
Primary Sponsor
Mark McKenney
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 eligible to retire on or after the new date
- Retirement benefits would be calculated using the average of the highest 3 consecutive years of compensation rather than the highest 5 consecutive years that applied under certain prior rules
- Affects three retirement systems: Teachers' Retirement (Chapter 16-16), State Employees' Retirement System (Chapter 36-8), and Municipal Employees' Retirement System (Chapter 45-21)
- Effectively restores a more favorable benefit calculation formula by moving the eligibility date back approximately 15 years
- Takes effect immediately 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 Senate Finance
2/13/2026
Committee Referrals
Finance2/13/2026
Full Bill Text
No bill text available