Plain-English Summary
This legislation amends the Rhode Island General Laws regarding the state retirement system. It specifically allows active members who are police officers or firefighters to purchase retirement service credit for time served in the National Guard or Reserves. To qualify, the individual must be a veteran with an honorable discharge. The bill establishes a ratio where five years of Guard or Reserve service equals one year of creditable service, with a maximum purchase limit of four years of credit. The cost calculation remains consistent with existing military credit purchases.
This bill helps police officers and firefighters who also served in the military reserves, like the National Guard. When people work for the state, they earn points toward their retirement, which is money they get after they finish their careers. This new law says that police and firefighters can buy extra retirement points based on the time they spent in the National Guard. For every five years they served in the Guard, they can get one year of credit toward their retirement. This helps them reach their retirement goals.