§ 45-21.2-6.1 — § 45-21.2-6.1. South Kingstown police department — Retirement allowance.

Rhode Island § 45-21.2-6.1

• Jurisdiction: Rhode Island
• Title 45: Towns and cities
• Ch. 45-21.2: Optional Retirement for Members of Police Force and Firefighters

Text

§ 45-21.2-6.1. South Kingstown police department — Retirement allowance.

Upon retirement from service pursuant to subdivision (1), (2), or (5) of § 45-21.2-5, a member of the South Kingstown police department receives a retirement allowance which is a life annuity terminable at the death of the annuitant, and is an amount equal to the sum of two and one-half percent (2.5%) of final compensation multiplied by the years of service accrued after July 1, 1993, and until June 30, 2012, and two percent (2%) of final compensation multiplied by the years of service accrued prior to July 1, 1993. For service on and after July 1, 2012, a member's service retirement allowance shall be determined in accordance with § 45-21.2-6. The annual retirement allowance in no event shall exceed seventy-five percent (75%) of final compensation.

Legislative History

P.L. 1983, ch. 330, § 2; P.L. 1993, ch. 335, § 1; P.L. 2011, ch. 408, § 12; P.L. 2011, ch. 409, § 12.