§ 36-10-35.1 - One time adjustment to original retirement allowances. - Rhode Island Statutes

SECTION 36-10-35.1

   § 36-10-35.1  One time adjustment tooriginal retirement allowances. – (a) All state employees and the beneficiaries of state employees who retiredduring calendar year 1979 shall receive an additional eight percent (8%) totheir original retirement allowances.

   (b) All state employees and the beneficiaries of stateemployees who retired during calender year 1979 shall receive an additional twopercent (2%) added to the base eight percent (8%) paid to the 1979 retirees.Provided, further, that an additional two percent (2%) of the retirementallowance shall be paid for each year to a maximum of twenty percent (20%) tothose retirees and beneficiaries who retired in calendar year 1973, and priorto 1973, as indicated 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. Provided further, that the new 1986 pro rated payment shall be the basefor any subsequent cost of living adjustment payments.

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