§ 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.
History of Section.P.L. 2011, ch. 408, § 8; P.L. 2011, ch. 409, § 8.
Structure Rhode Island General Laws
Title 36 - Public Officers and Employees
Chapter 36-10.2 - Pension Protection Act
Section 36-10.2-1. - Short title.
Section 36-10.2-3. - Definitions.
Section 36-10.2-4. - Actuarial valuation methodology.
Section 36-10.2-5. - Determination of endangered status.
Section 36-10.2-6. - Annual certification and notice requirements.
Section 36-10.2-7. - Funding improvement strategy procedure.
Section 36-10.2-8. - Funding improvement period.