§ 36-10.2-8. Funding improvement period.
(1) The funding improvement period for any funding improvement strategy adopted pursuant to this chapter shall begin on the first day of July immediately after the adoption date of the funding improvement strategy.
(2) The funding improvement period shall be a ten (10) year period unless the actuary certifies under § 36-10.2-6 for a plan year that the plan is no longer in endangered status. In such a case, the funding improvement period shall end as of the close of the preceding plan year.
(3) A plan may not be amended during the funding improvement period so as to be inconsistent with the funding improvement strategy.
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.