§ 45-21-47 - Reserved power to amend or repeal – Vested rights. - Rhode Island Statutes

SECTION 45-21-47

   § 45-21-47  Reserved power to amend orrepeal – Vested rights. – The right to amend, alter, or repeal this chapter at any time or from time totime is expressly reserved, and in that event the liability of the municipalemployees' retirement system is limited in the case of a member or a personclaiming through the member to the contributions made by the member, withoutinterest, and in the case of a municipality, to contributions made by themunicipality without interest, subject to deductions prescribed in the case ofwithdrawal by a municipality as provided in § 45-21-6. All retirementallowances or other benefits granted by the retirement of members, and in forceprior to a repeal or amendment, are vested in the beneficiaries of theretirement allowances and shall be paid in full in accordance with the terms ofthis chapter, and the rights of the retirement board to compel the payment byany municipality of the sum or sums necessary to provide the retirementallowances granted to members formerly employed by the municipality shall notbe affected by the repeal or amendment.