§ 36-10.2-5 — § 36-10.2-5. Determination of endangered status.

Rhode Island § 36-10.2-5

• Jurisdiction: Rhode Island
• Title 36: Public Officers and Employees
• Ch. 36-10.2: Pension Protection Act

Text

§ 36-10.2-5. Determination of endangered status.

A plan is in endangered status for a plan year if the retirement board determines, in consultation with the plan actuary, that the plan:

(i) Has a funded percentage of fifty percent (50%) or less;

(ii) The plan's funded percentage has decreased for five (5) consecutive plan years.

Legislative History

P.L. 2011, ch. 408, § 8; P.L. 2011, ch. 409, § 8.