§ 36-10-39. Fiscal impact of proposed legislation impacting the retirement system.
Proposed legislation which directly impacts the retirement system can potentially affect the benefits of all plan participants and beneficiaries. Since it is in the best interests of plan participants and beneficiaries to determine the financial consequences of any proposed legislation which would directly impact the state’s liability to the retirement system, such legislation shall not be approved by the general assembly unless an explanatory statement or note, prepared and paid for by the employees’ retirement system of the state of Rhode Island is appended to the proposed legislation which actuarially calculates, based upon approved retirement board assumptions, the projected twenty (20) year cost of the proposed legislation. These statements or notes shall be known as “pension impact notes,” and they shall accompany each such bill or resolution prior to consideration of the house in which the bill or resolution originated. The reasonable cost of preparing pension impact notes shall be charged as an administrative expense and paid from the retirement system’s restricted receipts account established pursuant to § 36-8-10.1. Only the chair of the senate committee on finance with the approval of the president of the senate can request a pension impact note on proposed legislation that originates in the senate. Only the chair of the house committee on finance with the approval of the speaker of the house can request a pension impact note on proposed legislation that originates in the house. The governor can request a pension impact note on proposed legislation recommended in the appropriation acts required by §§ 35-3-7 or 35-3-8. This section shall be in addition to the requirements of chapter 12 of title 22.
History of Section.P.L. 1994, ch. 139, § 8; P.L. 2008, ch. 100, art. 23, § 2.
Structure Rhode Island General Laws
Title 36 - Public Officers and Employees
Chapter 36-10 - Retirement System — Contributions and Benefits
Section 36-10-1. - Member contributions — Deduction from compensation.
Section 36-10-1.1. - Department payment of member contributions.
Section 36-10-2. - State contributions.
Section 36-10-2.1. - Actuarial cost method.
Section 36-10-3. - Credits to individuals in annuity savings account.
Section 36-10-4. - Credits and charges to contingent reserve account.
Section 36-10-6. - Agreements for federal contributions.
Section 36-10-7. - Guaranty by state — Annual appropriations.
Section 36-10-8. - Refund of contributions — Repayment and restoration of credits.
Section 36-10-9. - Retirement on service allowance — In general.
Section 36-10-9.1. - Retirement on service allowance — Legislators.
Section 36-10-9.2. - Retirement on service allowance — Correctional officers.
Section 36-10-9.3. - Retirement on service allowance — Registered nurses.
Section 36-10-9.4. - Post-retirement service as legislator.
Section 36-10-9.5. - Repealed.
Section 36-10-9.6. - Aeronautics inspectors — Retirement.
Section 36-10-9.7. - Electronic funds transfer.
Section 36-10-10. - Amount of service retirement allowance.
Section 36-10-10.1. - Amount of service retirement allowance — Legislators.
Section 36-10-10.2. - Amount of service retirement allowance — Correctional officers.
Section 36-10-10.3. - Social security supplemental option.
Section 36-10-10.4. - Effect of deferral and/or reduction of salary.
Section 36-10-11. - Service allowance to member withdrawing from service before retirement age.
Section 36-10-12. - Retirement for ordinary disability.
Section 36-10-13. - Amount of ordinary disability benefit.
Section 36-10-14. - Retirement for accidental disability.
Section 36-10-15. - Amount of accidental disability benefit.
Section 36-10-16. - Disability benefits pending final decision on application.
Section 36-10-18. - Optional benefits.
Section 36-10-19.1. - Optional annuity protection — In service.
Section 36-10-20. - Accidental death benefits.
Section 36-10-21. - Ordinary death benefit.
Section 36-10-22. - Retention of death benefit coverage by general assembly member not reelected.
Section 36-10-23. - Benefit payable on death after retirement.
Section 36-10-23.1. - Benefit payable on death of retired legislator.
Section 36-10-24. - Person to whom death benefit payable.
Section 36-10-25 - — 36-10-30. Repealed.
Section 36-10-31. - Deduction of amounts received from workers’ compensation or as damages.
Section 36-10-32. - Tax exemption.
Section 36-10-33. - Penalty for fraudulent claim or statement.
Section 36-10-34. - Exemption of benefits and contributions from attachment.
Section 36-10-35. - Additional benefits payable to retired employees.
Section 36-10-35.1. - One time adjustment to original retirement allowances.
Section 36-10-36. - Post-retirement employment.
Section 36-10-36.1. - Post-retirement employment related to COVID-19.
Section 36-10-37. - Retirement benefits for certain general state officers.
Section 36-10-38. - Combined service credits of general state officers.
Section 36-10-39. - Fiscal impact of proposed legislation impacting the retirement system.