Rhode Island § 36-9-36 - Retirement System — Membership and Service Credits

§ 36-9-36. Narragansett Bay water quality management commission — Merger — New employees.

(a) In the event that the Narragansett Bay water quality management commission, hereinafter referred to as “commission”, shall acquire a sewage treatment facility, hereinafter referred to as “facility”, of any city, town, or district, or in the event of the merger or consolidation of a facility into or with the commission, then any employee of the facility who subsequently becomes and remains an employee of the commission who is a collectively bargained employee (within the meaning of § 410(b)(3)(A) of the Internal Revenue Code [26 U.S.C. § 410(b)(3)(A)]) may elect to be treated as a transferred employee pursuant to § 36-9-44 and shall be granted service credits for his or her term of service with the facility prior to the transfer, provided:

(1) An actuarial study is made to determine the cost to include each new member of the system; and

(2) The contributions of both the employer and employee made prior to the transfer are paid to the state employees’ retirement fund.

(b) If the employee elects not to have his or her funds transferred then that employee shall not receive credit for any prior service.

(c) Each employee shall have six (6) months from the time he or she becomes an employee of the commission to decide whether or not the employee wishes to have their funds transferred and receive credit for their prior service.