(a)  Any member who was employed by a municipality, as defined in § 45-21-2, which did not elect to accept this chapter, as provided in § 45-21-4, shall be given credit for that service for the various purposes of this system; provided, that the member pays to the retirement system a lump sum amount equal to the full actuarial cost of that credit as certified by the retirement board.

Terms Used In Rhode Island General Laws 45-21-56

  • board: means the state retirement board created by chapter 8 of Title 36. See Rhode Island General Laws 45-21-2
  • Employee: means any regular and permanent employee or officer of any municipality, whose business time at a minimum of twenty (20) hours a week is devoted to the service of the municipality, including elective officials and officials and employees of city and town housing authorities. See Rhode Island General Laws 45-21-2
  • Member: means any person included in the membership of the retirement system as provided in §?45-21-8. See Rhode Island General Laws 45-21-2
  • Municipality: means any town or city in the state of Rhode Island, any city or town housing authority, fire, water, sewer district, regional school district, public building authority as established by chapter 14 of Title 37, or any other municipal financed agency to which the retirement board has approved admission in the retirement system. See Rhode Island General Laws 45-21-2
  • Participating municipality: means any municipality which has accepted this chapter, as provided in §?45-21-4. See Rhode Island General Laws 45-21-2
  • Retirement system: means the "municipal employees' retirement system of the state of Rhode Island" as defined in §?45-21-32. See Rhode Island General Laws 45-21-2
  • Service: means service as an employee of a municipality of the state of Rhode Island as defined in subdivision (7). See Rhode Island General Laws 45-21-2

(b)  The retirement board shall fix and determine rules and regulations to govern the provisions of this section.

(c)  If any member who was employed by a participating municipality is subsequently hired by a different participating municipality, his or her service credits from the former employer shall transfer in toto to the current employer. The retirement system shall transfer all prior employee contributions to the account of the current employing municipality and calculate the full actuarial value of the accrued benefit with the former employing municipality. If the full actuarial value of the accrued benefit with the former employer is greater than the total employee contributions transferred, the retirement system shall also transfer the difference between the full actuarial value of the accrued benefit with the former employer and the employee’s contributions from the account of the former employing municipality to the account of the current employing municipality.

History of Section.
P.L. 1982, ch. 99, § 1; P.L. 1998, ch. 70, § 1; P.L. 1998, ch. 291, § 1.