§ 45-21-62 - Purchase of credits for continuous municipal service. - Rhode-island Statutes

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Statutes > Rhode-island > Title-45 > Chapter-45-21 > 45-21-62

SECTION 45-21-62

§ 45-21-62 Purchase of credits forcontinuous municipal service. – Notwithstanding any other provision of the retirement laws of this state, anyactive member of the municipal employees' retirement system who was sixty (60)years of age or greater when their employment commenced, and commencedemployment before June 22, 1989, and was ineligible by state law from joiningthe retirement system, is allowed to purchase service credits for actual pastemployment. The number of years for which credits may be purchased is limitedto the difference between the date upon which they commenced employment atsixty (60) years of age or greater and June 22, 1989, when they were requiredby law to join the retirement system. Purchase of past service credits shall beat the rate that contributions would have been calculated at the time of pastservice, plus interest.

State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-21 > 45-21-62

SECTION 45-21-62

§ 45-21-62 Purchase of credits forcontinuous municipal service. – Notwithstanding any other provision of the retirement laws of this state, anyactive member of the municipal employees' retirement system who was sixty (60)years of age or greater when their employment commenced, and commencedemployment before June 22, 1989, and was ineligible by state law from joiningthe retirement system, is allowed to purchase service credits for actual pastemployment. The number of years for which credits may be purchased is limitedto the difference between the date upon which they commenced employment atsixty (60) years of age or greater and June 22, 1989, when they were requiredby law to join the retirement system. Purchase of past service credits shall beat the rate that contributions would have been calculated at the time of pastservice, plus interest.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-21 > 45-21-62

SECTION 45-21-62

§ 45-21-62 Purchase of credits forcontinuous municipal service. – Notwithstanding any other provision of the retirement laws of this state, anyactive member of the municipal employees' retirement system who was sixty (60)years of age or greater when their employment commenced, and commencedemployment before June 22, 1989, and was ineligible by state law from joiningthe retirement system, is allowed to purchase service credits for actual pastemployment. The number of years for which credits may be purchased is limitedto the difference between the date upon which they commenced employment atsixty (60) years of age or greater and June 22, 1989, when they were requiredby law to join the retirement system. Purchase of past service credits shall beat the rate that contributions would have been calculated at the time of pastservice, plus interest.