§ 36-9.1-2 - Status of non-employee and non-teacher members. - Rhode Island Statutes

SECTION 36-9.1-2

   § 36-9.1-2  Status of non-employee andnon-teacher members. – (a) Any individual who became a member of the retirement systems based solelyon § 36-9-33 (repealed) or who purchased credit in the retirement systemsbased upon § 36-9-33 (repealed) shall no longer be entitled to membershipand/or credit(s) and shall no longer receive any benefits of any type from theretirement systems which were based upon § 36-9-33 (repealed). By January1, 1995, the retirement system shall return any contributions or purchases madepursuant to § 36-9-33 (repealed) by the individual and/or the individual'semployer with interest at the actuarially assumed rate earned by the retirementsystems on its pension funds during the applicable time period since thecontributions and/or purchase was made.

   (b) The return of contributions or purchases shall be offsetby any benefits already received by the individual from the retirement system.

   (c) Nothing in this chapter shall be construed as prohibitingany individual from later becoming a member of the retirement systems orpurchasing credits in accordance with applicable law.