§ 16-15-14.1 - Additional retirement grants for state college and school teachers – Payment. - Rhode Island Statutes

SECTION 16-15-14.1

   § 16-15-14.1  Additional retirement grantsfor state college and school teachers – Payment. – (a) The general assembly shall also annually appropriate a sum sufficient topay an additional retirement grant which when added to the existing pensionwill provide for the payment of a pension of not more than two thousand dollars($2,000) annually to every retired teacher who qualified for and is receivingretirement benefits for teaching at Rhode Island College, the University ofRhode Island, or other state schools whose present annual pension is less thantwo thousand dollars ($2,000). This additional grant shall be an annual stategrant and shall be in addition to any and all amounts being paid from the statepension or retirement system and shall be administered by the retirementdivision in the department of treasury.

   (b) These grants shall be apportioned into monthly benefitsand shall be disbursed monthly.