Rhode Island § 36-9-47 § 36-9-47. Purchase of service credits payable by installment.

Rhode Island Statutes

§ 36-9-47 — § 36-9-47. Purchase of service credits payable by installment.

Rhode Island·Title 36 Public Officers and Employees·Ch. 36-9 Retirement System â€” Membership and Service Credits

§ 36-9-47. Purchase of service credits payable by installment.
Notwithstanding any other provisions of this chapter or of any other public or general
            law to the contrary, the retirement board shall permit individuals who purchase service
            credit to do so in installments. The retirement board shall create, by rule and regulation,
            provisions allowing that individuals purchasing service credit may do so on an installment
            plan by payroll deduction not to exceed five (5) years, provided that all purchases
            must be made prior to retirement. The retirement board shall charge interest at the
            actuarial assumed rate of return adopted by the board for purchases 

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§ 36-9-47. Purchase of service credits payable by installment.

Notwithstanding any other provisions of this chapter or of any other public or general law to the contrary, the retirement board shall permit individuals who purchase service credit to do so in installments. The retirement board shall create, by rule and regulation, provisions allowing that individuals purchasing service credit may do so on an installment plan by payroll deduction not to exceed five (5) years, provided that all purchases must be made prior to retirement. The retirement board shall charge interest at the actuarial assumed rate of return adopted by the board for purchases made on an installment plan.

Rhode Island § 36-9-47 (§ 36-9-47. Purchase of service credits payable by installment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.