Rhode Island General Treasurer James Diossa announced today that he will be holding town halls on recent changes made to the state’s pension system for retired employees.
“We want to ensure that ERSRI members have all the information they need to understand the pension changes now in effect,” said Treasurer Diossa.
The town halls will be held on Aug. 26 at the Community College of Rhode Island in Newport, Aug. 29 at the Community College of Rhode Island in Lincoln, Aug. 29 at the Community College of Rhode Island in Flanagan and Aug. 29 at the Cranston Senior Center.
“We understand there is a lot of information out there, and we want our members to know exactly what these changes mean for them,” Diossa added.
Meeting Calendar:
Monday, August 26th @ 1:30 p.m.
Community College of Rhode Island, Newport County Campus
1 John H. Chafee Blvd, Newport
Monday, August 26th @ 4:30 p.m.
Quinta Gamelin Community Center
101 Asylum Rd, Bristol
Thursday, August 29th @ 1:30 p.m.
Community College of Rhode Island, Flanagan Campus
1762 Old Louisquisset Pike, Lincoln
Thursday, August 29th @ 4:30 p.m.
Cranston Senior Center
1070 Cranston Street, Cranston
The changes, which were made as part of the state’s FY25 budget, include increases in cost-of-living allowances for certain teachers, state employees and municipal employees who retired on or before June 30, 2012. The new law also permits retired teachers to exceed post-retirement employment caps. In addition, the law also increases the post-retirement income limitations for education professionals and makes benefit changes for state-employed public safety professionals.
The legislative changes follow the enactment of Article 12 of the state’s FY25 budget:
- Cost of Living Adjustments for certain teachers, state employees, and municipal employees who retired on or before June 30, 2012;
- Changes to the Final Average Salary formula used to determine benefit amount;
- Extension of law permitting retired teachers to exceed post-retirement employment caps;
- Increase in post-retirement income limitations for education professionals;
- Benefit changes for state-employed public safety professionals.
