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RI S2818
Bill
Status
3/4/2026
Primary Sponsor
Frank Ciccone
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AI Summary
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Beginning January 1, 2026, all retired state employees, teachers, and municipal employees would receive annual cost-of-living adjustments (COLA) equal to the CPI-U increase or 3%, whichever is less, with a floor of 0%
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COLA adjustments would be compounded annually into the retiree's total retirement benefit, with the new compounded amount serving as the base for subsequent years' calculations
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Excludes retired judges and retired state police members from the new COLA provisions
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Adjustments apply to retirement benefits as of January 1, 2026 for current retirees, or upon defined benefit retirement entitlement for future retirees
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Provisions are funded from existing Employee Retirement System of Rhode Island funds without increasing employer contributions, and sunset 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 Senate Finance
3/4/2026