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Section 45-21.2-6.3 Richmond police department - Retirement allowance.

RI Gen L § 45-21.2-6.3 (2019) (N/A)
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§ 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.)

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