Section 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 § 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 § 45-21.2-22(b).R.I. Gen. Laws § 45-21.2-14
Amended by 2015 Pub. Laws, ch. 141, § 21-27, eff. 6/30/2015.P.L. 1968, ch. 230, § 1; P.L. 1983, ch. 330, §1; P.L. 1996 , ch. 374, § 1; P.L. 2000 , ch. 454, § 2; P.L. 2011 , ch. 408, § 12; P.L. 2011 , ch. 409, § 12.