§ 16-16-40.1 - One-time adjustment to original retirement allowance. - Rhode Island Statutes

SECTION 16-16-40.1

   § 16-16-40.1  One-time adjustment tooriginal retirement allowance. – (a) All teachers and the beneficiaries of teachers who retired during thecalendar year 1979 shall receive an additional eight percent (8%) to theiroriginal retirement allowance.

   (b) All teachers and the beneficiaries of teachers whoretired during calendar year 1978 shall receive an additional two percent (2%)added to the base eight percent (8%) paid to the 1979 retirees. Provided,further that an additional two percent (2%) of the retirement allowance shallbe paid for each year to a maximum of twenty percent (20%) to those retireesand beneficiaries who retired in calendar year 1973 and prior to 1973 asindicated in the following schedule:

   SEE THE BOOK FOR THE PROPER TABLE.

   (c) The additional percentage shall be incorporated into therecipient's monthly benefit starting with the payment due on or after July 31,1986.

   (d) The provisions of §§ 45-13-7 through 45-13-10shall not apply to this section.