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An Employee's Guide to Understanding the Rhode Island Retirement Security Act

 

On July 1, 2012, the Rhode Island Retirement Security Act of 2011 (RIRSA) will fully take effect. Treasury’s newly created Employee’s Guide to Understanding the Rhode Island Retirement Security Act outlines the many changes RIRSA brings to the Employees’ Retirement System of Rhode Island (ERSRI), Rhode Island’s largest public employee pension system. Among those changes are a combined defined pension benefit and defined contribution program, a retirement age that matches the Social Security normal retirement age (with transition rules for those closer to retirement) and cost-of-living adjustments that are tied to the system’s funding level and actual investment returns.

Read Treasury’s newly released An Employee’s Guide to Understanding the Rhode Island Retirement Security Act.