Rhode Island General Laws 45-21.2-6.3. Richmond police department – Retirement allowance
Upon retirement from service pursuant to chapter 45-21.2-5, a member of the Richmond police department shall receive a retirement allowance which shall be terminable at the death of the annuitant, and shall be an amount equal to the sum of two and two thousand seven hundred twenty-seven ten thousandths of a percent (2.2727%) of final compensation (average of final three years’ salary) multiplied by the years of service on and prior to June 30, 2012. For service on and after July 1, 2012, a member’s service retirement allowance shall be determined in accordance with § 45-21.2-6. The annual retirement allowance in no event shall exceed seventy-five percent (75%) of final compensation.
History of Section.
P.L. 2007, ch. 482, § 1; P.L. 2011, ch. 408, § 12; P.L. 2011, ch. 409, § 12.
Terms Used In Rhode Island General Laws 45-21.2-6.3
- final compensation: means for members who retire on or prior to June 30, 2012, the average annual compensation, pay or salary of a member for services rendered during the period of three (3) consecutive years within the total service of the member when that average was highest. See Rhode Island General Laws 45-21.2-2