§ 45-21.2-14. Contributions.
(a) Each member shall contribute an amount equal to seven percent (7%) of the salary or
compensation earned or accruing to the member provided that effective July 1, 2015,
each member shall contribute an amount equal to nine percent (9%) of the salary or
compensation earned or accruing to the member. Special compensation or additional
fees shall not be considered as compensation for contribution purposes.
(b) Deductions are made in accordance with § 45-21-14 and credited in accordance with § 45-21-43.
(c) Each municipality shall make contributions to the system to provide the remainder
of the obligation for retirement allowances, annuities, and other benefits provided
in this section, after applying the accumulated contribution of members, interest
income on investments, and other accrued income. The contribution shall be compiled
in accordance with §§ 45-21-42 — 45-21-44, except that contributions for the first five (5) years of the system shall likewise
be determined by the board.
(d) Provided, that members of the South Kingstown police department, beginning July 1,
1985, and until June 30, 2012, contribute an amount equal to eight percent (8%) of
salary or compensation or additional fees are not considered as compensation for retirement
purposes. For service on and after July 1, 2012, a member of the South Kingstown police
department shall make contributions in accordance with subsection (a) above.
(e) Provided, further, that for service on or prior to June 30, 2012, members of the City
of Cranston fire department hired after July 1, 1995, beginning July 1, 1995, contribute
an amount equal to ten percent (10%) of their weekly salary; and those members of
the City of Cranston fire department with five (5) years or less of service effective
July 1, 1995, have the option to either remain in the City of Cranston pension plan
to which they belonged prior to the adoption of local ordinance by the Cranston city
council as stated in § 45-21.2-22 or contribute to the State of Rhode Island optional twenty (20) year retirement on
service allowance an amount equal to ten percent (10%) of their weekly salary commencing
July 1, 1995. The City of Cranston may request and the retirement board may authorize
additional members of the City of Cranston fire department hired after July 1, 1987,
the option to either remain in the City of Cranston pension plan to which they belonged
prior to the adoption of local ordinance by the Cranston city council as stated in
§ 45-21.2-22 or contribute to the State of Rhode Island optional twenty (20) year retirement on
service allowance an amount equal to ten percent (10%) of their weekly salary beginning
on a date specified by the retirement board. For service on and after July 1, 2012,
a member of the City of Cranston fire department shall make contributions in accordance
with paragraph (a) above and a member's benefit shall be calculated in accordance
with §â€‰ 45-21.2-22(b).
(f) Further, provided, that for service on and prior to June 30, 2012, members of the
City of Cranston police department hired after July 1, 1995, beginning July 1, 1995,
contribute an amount equal to ten percent (10%) of their weekly salary; and those
members of the City of Cranston police department with five (5) years or less of service
effective July 1, 1995, have the option to either remain in the City of Cranston pension
plan to which they belonged prior to the adoption of local ordinance by the Cranston
city council as stated in § 45-21.2-22 or contribute to the State of Rhode Island optional twenty (20) year retirement on
service allowance an amount equal to ten percent (10%) of their weekly salary commencing
July 1, 1995. The City of Cranston may request and the retirement board may authorize
additional members of the City of Cranston police department hired after July 1, 1987,
the option to either remain in the City of Cranston pension plan to which they belonged
prior to the adoption of local ordinance by the Cranston city council as stated in
§ 45-21.2-22 or contribute to the State of Rhode Island optional twenty (20) year retirement on
service allowance an amount equal to ten percent (10%) of their weekly salary beginning
on a date specified by the retirement board. For service on and after July 1, 2012,
a member of the City of Cranston police department shall make contributions in accordance
with paragraph (a) above and a member's benefit shall be calculated in accordance
with §â€‰ 45-21.2-22(b).