§ 45-21-52 Automatic increase in serviceretirement allowance. – (a) The local legislative bodies of the cities and towns may extend to theirrespective employees automatic adjustment increases in their service retirementallowances, by a resolution accepting any of the plans described in thissection:
(1) Plan A. All employees and beneficiaries of thoseemployees receiving a service retirement or disability retirement allowanceunder the provisions of this chapter on December 31 of the year their city ortown accepts this section, receive a cost of living adjustment equal to one andone-half percent (1 1/2%) per year of the original retirement allowance, notcompounded, for each calendar year the retirement allowance has been in effect.This cost of living adjustment is added to the amount of the retirementallowance as of January 1 following acceptance of this provision, and anadditional one and one-half percent (1 1/2%) is added to the originalretirement allowance in each succeeding year during the month of January, andprovided, further, that this additional cost of living increase is threepercent (3%) for the year beginning January 1 of the year the plan is acceptedand each succeeding year.
(2) Plan B. All employees and beneficiaries of thoseemployees receiving a retirement allowance under the provisions of this chapteron December 31 of the year their municipality accepts this section, receive acost of living adjustment equal to three percent (3%) of their originalretirement allowance. This adjustment is added to the amount of the retirementallowance as of January 1 following acceptance of this provision, and anadditional three percent (3%) of the original retirement allowance, notcompounded, is payable in each succeeding year in the month of January.
(3) Plan C. All employees and beneficiaries of thoseemployees who retire on or after January 1 of the year following acceptance ofthis section, on the first day of January next following the date of theretirement, receive a cost of living adjustment in an amount equal to threepercent (3%) of the original retirement allowance.
(b) In each succeeding year in the month of January, theretirement allowance is increased an additional three percent (3%) of theoriginal retirement allowance, not compounded.
(c) Upon acceptance of any of the plans in this section, eachemployee shall on January 1 next succeeding the acceptance, contribute by meansof salary deductions, pursuant to § 45-21-41, one percent (1%) of theemployee's compensation concurrently with and in addition to contributionsotherwise being made to the retirement system.
(d) The city or town shall make any additional contributionsto the system, pursuant to the terms of § 45-21-42, for the payment of anybenefits provided by this section.
(e) The East Greenwich town council shall be allowed toaccept Plan C of § 45-21-52(a)(3) for all employees of the town of EastGreenwich who either, pursuant to contract negotiations, bargain for Plan C, orwho are non-union employees who are provided with Plan C and who shall allcollectively be referred to as the "Municipal-COLA Group" and shall be separatefrom all other employees of the town and school department, union or non-union,who are in the same pension group but have not been granted Plan C benefits.Upon acceptance by the town council, benefits in accordance with this sectionshall be available to all such employees who retire on or after January 1, 2003.
§ 45-21-52 Automatic increase in serviceretirement allowance. – (a) The local legislative bodies of the cities and towns may extend to theirrespective employees automatic adjustment increases in their service retirementallowances, by a resolution accepting any of the plans described in thissection:
(1) Plan A. All employees and beneficiaries of thoseemployees receiving a service retirement or disability retirement allowanceunder the provisions of this chapter on December 31 of the year their city ortown accepts this section, receive a cost of living adjustment equal to one andone-half percent (1 1/2%) per year of the original retirement allowance, notcompounded, for each calendar year the retirement allowance has been in effect.This cost of living adjustment is added to the amount of the retirementallowance as of January 1 following acceptance of this provision, and anadditional one and one-half percent (1 1/2%) is added to the originalretirement allowance in each succeeding year during the month of January, andprovided, further, that this additional cost of living increase is threepercent (3%) for the year beginning January 1 of the year the plan is acceptedand each succeeding year.
(2) Plan B. All employees and beneficiaries of thoseemployees receiving a retirement allowance under the provisions of this chapteron December 31 of the year their municipality accepts this section, receive acost of living adjustment equal to three percent (3%) of their originalretirement allowance. This adjustment is added to the amount of the retirementallowance as of January 1 following acceptance of this provision, and anadditional three percent (3%) of the original retirement allowance, notcompounded, is payable in each succeeding year in the month of January.
(3) Plan C. All employees and beneficiaries of thoseemployees who retire on or after January 1 of the year following acceptance ofthis section, on the first day of January next following the date of theretirement, receive a cost of living adjustment in an amount equal to threepercent (3%) of the original retirement allowance.
(b) In each succeeding year in the month of January, theretirement allowance is increased an additional three percent (3%) of theoriginal retirement allowance, not compounded.
(c) Upon acceptance of any of the plans in this section, eachemployee shall on January 1 next succeeding the acceptance, contribute by meansof salary deductions, pursuant to § 45-21-41, one percent (1%) of theemployee's compensation concurrently with and in addition to contributionsotherwise being made to the retirement system.
(d) The city or town shall make any additional contributionsto the system, pursuant to the terms of § 45-21-42, for the payment of anybenefits provided by this section.
(e) The East Greenwich town council shall be allowed toaccept Plan C of § 45-21-52(a)(3) for all employees of the town of EastGreenwich who either, pursuant to contract negotiations, bargain for Plan C, orwho are non-union employees who are provided with Plan C and who shall allcollectively be referred to as the "Municipal-COLA Group" and shall be separatefrom all other employees of the town and school department, union or non-union,who are in the same pension group but have not been granted Plan C benefits.Upon acceptance by the town council, benefits in accordance with this sectionshall be available to all such employees who retire on or after January 1, 2003.
§ 45-21-52 Automatic increase in serviceretirement allowance. – (a) The local legislative bodies of the cities and towns may extend to theirrespective employees automatic adjustment increases in their service retirementallowances, by a resolution accepting any of the plans described in thissection:
(1) Plan A. All employees and beneficiaries of thoseemployees receiving a service retirement or disability retirement allowanceunder the provisions of this chapter on December 31 of the year their city ortown accepts this section, receive a cost of living adjustment equal to one andone-half percent (1 1/2%) per year of the original retirement allowance, notcompounded, for each calendar year the retirement allowance has been in effect.This cost of living adjustment is added to the amount of the retirementallowance as of January 1 following acceptance of this provision, and anadditional one and one-half percent (1 1/2%) is added to the originalretirement allowance in each succeeding year during the month of January, andprovided, further, that this additional cost of living increase is threepercent (3%) for the year beginning January 1 of the year the plan is acceptedand each succeeding year.
(2) Plan B. All employees and beneficiaries of thoseemployees receiving a retirement allowance under the provisions of this chapteron December 31 of the year their municipality accepts this section, receive acost of living adjustment equal to three percent (3%) of their originalretirement allowance. This adjustment is added to the amount of the retirementallowance as of January 1 following acceptance of this provision, and anadditional three percent (3%) of the original retirement allowance, notcompounded, is payable in each succeeding year in the month of January.
(3) Plan C. All employees and beneficiaries of thoseemployees who retire on or after January 1 of the year following acceptance ofthis section, on the first day of January next following the date of theretirement, receive a cost of living adjustment in an amount equal to threepercent (3%) of the original retirement allowance.
(b) In each succeeding year in the month of January, theretirement allowance is increased an additional three percent (3%) of theoriginal retirement allowance, not compounded.
(c) Upon acceptance of any of the plans in this section, eachemployee shall on January 1 next succeeding the acceptance, contribute by meansof salary deductions, pursuant to § 45-21-41, one percent (1%) of theemployee's compensation concurrently with and in addition to contributionsotherwise being made to the retirement system.
(d) The city or town shall make any additional contributionsto the system, pursuant to the terms of § 45-21-42, for the payment of anybenefits provided by this section.
(e) The East Greenwich town council shall be allowed toaccept Plan C of § 45-21-52(a)(3) for all employees of the town of EastGreenwich who either, pursuant to contract negotiations, bargain for Plan C, orwho are non-union employees who are provided with Plan C and who shall allcollectively be referred to as the "Municipal-COLA Group" and shall be separatefrom all other employees of the town and school department, union or non-union,who are in the same pension group but have not been granted Plan C benefits.Upon acceptance by the town council, benefits in accordance with this sectionshall be available to all such employees who retire on or after January 1, 2003.
